Nonfarm payrolls expected robust - Westpac

FXStreet (Guatemala) - Analysts at Westpac noted the Dec 5 nonfarm payrolls coming up and offer predictions.

Key Quotes:

"Last: 271k, WBC f/c: 210k Dec 5 unemployment rate, Last: 5.0%, WBC f/c: 5.0%

After two soft months, nonfarm payrolls growth accelerated sharply in October, with 271k jobs created. Revisions to the prior two months added a further 12k.

Adding yet more positive sentiment, the household survey reported that the unemployment rate declined to 5.0%, its lowest level since early 2008.

Come November, we expect another robust jobs print, circa 210k. Employment growth will surely slow back towards a pace more in line with population growth and participation; but momentum typically takes time to dissipate. Being broadly in line with FOMC estimates of full employment, we expect the unemployment rate to remain unchanged at 5.0%."

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD falls toward 1.19 after robust US Nonfarm Payrolls data

EUR/USD is trading above 1.19 after dipping below that number in response to the US Nonfarm Payrolls, which showed an increase of 379K jobs in February. Higher yields in response to Powell are keeping the dollar bid.


GBP/USD recovers after post-NFP dip below 1.38

GBP/USD is trading above 1.38 bus till down the day. The US gained 379.000 jobs, roughly double than expected and supporting the dollar. The Senate's stimulus debate is eyed.


XAU/USD battles 1700 level

Gold is staging a rebound toward $1,700 amid proift-taking ahead of the weekend but remains on track to close the third straight week in the negative territory.

Gold News

Ethereum price primed for a swift recovery as the network prepares for a major update in July

Ethereum price aims for a significant recovery towards $2,000. A major upgrade scheduled for July intends to fix the problem with gas fees on Ethereum. ETH miners are not happy with the decision.

Read more

US Dollar Index pushes higher to 92.20 on stellar Payrolls

The march north in the greenback remains unabated and trade in fresh 2021 highs beyond the 92.00 hurdle when tracked by the US Dollar Index (DXY).

US Dollar Index News