Non farm payrolls and hourly earnings print above expectation, the dollar bounced but died soon after.
The BLS released the Non farm payrolls, hourly earnings and the unemployment rate today with very little reaction from the currency markets but a nice bid under the stocks immediately after.
This months NFP came in at 215,000 slightly higher than expectations of 206,000.
Hourly earnings came in at +0,3% also ahead of expectations of +0.2%.
The only laggard was the unemployment rate at 5% even, slightly above the 4.9% expected.
Here are the charts.
This months number has continued the slight downtrend of the last 6 months. While better year over year by a sizeable distance. March 2015 printed 150,000.
Hourly earnings posted a big turnaround from last months -0.1 coming in at +0.3. this number is right about the average for the range over the last 2 years.
The unemployment rate came in at 5%, which was a slight tick up from last month, due mostly to those people re-entering the workforce after being counted as having left the workforce up until now. Causing the workforce to expand.
EurUsd sold of immediately after the announcement but has since rallied back to the opening. Leaving it pretty flat for the day.
The dow has had a good day, rallying about 200 points from the open. With the price now popping up over the upper trend line we have been tracking.
All in all the report didn't have the any major effects across the markets. We have been served a major dose of volatility along with major reports of late so a calmer reaction is nice for a change!
We shouldn't get used of the serenity though, there is always another 'big news' day around the corner.
Check out our technical analysis for more in-depth currency coverage.
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