Breaking: US Nonfarm Payrolls surge by 379,000 in February, DXY climbs above 92.00
Nonfarm Payrolls (NFP) in the US rose by 379,000 in February, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed January's increase of 166,000 (revised from 49,000) and beat the market expectation of 182,000 by a wide margin.
Follow our live coverage of the US jobs report and the market reaction.
Market reaction
With the Initial reaction, the US Dollar Index (DXY) jumped to its highest level since late November at 92.14. As of writing, the DXY was up 0.5% on the day at 92.10.
Further details of the publication revealed that the Unemployment Rate edged lower to 6.2% from 6.3% and the Labor Force Participation Rate stayed unchanged at 61.4%. Finally, wage inflation, as measured by the Average Hourly Earnings, remained steady at 5.3% on a yearly basis.
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.
