Breaking: US Nonfarm Payrolls rise by 49,000 in January, USD weakens modestly

Eren Sengezer FXStreet

Nonfarm Payrolls (NFP) in the US increased by 49,000 in January, the data published by the US Bureau of Labor Statistics showed on Friday. This reading came in largely in line with the market expectation of 50,000. On a negative note, December's reading got revised down to -227,000 from -140,000.

Follow our live coverage of the NFP report and the market reaction.

Market reaction

With the initial market reaction, the greenback weakened against its major rivals and the US Dollar Index dropped to fresh session lows near 91.30, where it was down 0.22% on a daily basis.

Additional takeaways

Further details of the publication showed that the Unemployment Rate improved to 6.3% and came in better than analysts' estimate of 6.7%. Moreover, the Labor Force Participation Rate ticked down to 61.4% and the Average Hourly Earnings remained unchanged at 5.4% on a yearly basis, compared to experts' forecast of 5.1%.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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