Breaking: US Nonfarm Payrolls surge by 916,000 in March, DXY stays below 93.00

FXStreet Team FXStreet

Nonfarm Payrolls (NFP) in the US rose by 916,000 in March, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed February's increase of 468,000 (revised from 379,000) and came in much better than the market expectation of 647,000.

Follow our live coverage of the US jobs report and the market reaction.

Further details of the publication revealed that the Labor Force Participation Rate edged higher to 61.5% and the Unemployment Rate fell to 6% from 6.2%, matching analysts' estimates. Finally, wage inflation, as measured by the Average Hourly Earnings, fell to 4.2% on a yearly basis from 5.2% and missed the market consensus of 4.5%

Market reaction

With the initial market reaction, the greenback gathered some strength against its major rivals and the US Dollar ındex was last seen posting small daily gains at 92.97.

NFP Quick Analysis: Dollar buy opportunity? Tepid dollar reaction to sub-million job gain seems wrong.

"It is all about expectations – with headlines such as "the highest since 1983" shaping estimates and the market reaction," said FXStreet analyst Yohay Elam. "The US economy gained no fewer than 916,000 jobs in March, the highest since October. The Unemployment Rate dropped to 6% amid a participation rate of 61.5%."

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

EUR/USD gathers strength to near 1.1550 ahead of ECB rate decision

The EUR/USD pair trades in positive territory near 1.1540 during the early Asian trading hours on Thursday. Rising bets that the European Central Bank will deliver a rate hike at its June policy meeting later on Thursday underpin the Euro against the Greenback.

GBP/USD is hawkish for all the wrong reasons

Pound Sterling was handed a gift on Wednesday and dropped it within the hour. A soft core reading inside the US Consumer Price Index report knocked the Dollar back just long enough for GBP/USD to reclaim the 200-day Exponential Moving Average around 1.3400, tagging session highs just beyond it before the entire move was methodically sold through the US afternoon to a close at the day's lows near 1.3350.

Gold recovers slightly from November 2025 lows; not out of the woods yet

Gold extends the recent breakdown momentum below the 200-day SMA and plummets to its lowest level since November 2025 during the Asian session on Thursday. Renewed hostilities between the US and Iran push Crude Oil prices higher, reviving inflationary concerns and bolstering bets for more hawkish central banks. This continues to drive flows away from the non-yielding bullion, though subdued US Dollar demand helps spot prices to find some support ahead of the $4,000 psychological mark.

Bitcoin faces further downside risk amid growing short-term holder losses, weak ETF demand

Bitcoin's recent decline toward the $60,000 level has pushed the market further into bearish territory, with new investors suffering huge unrealized losses, according to a Glassnode report on Wednesday. The firm noted that Bitcoin's earlier May rally now appears increasingly as a "bear bounce".

From sizzle to fizzle: Tech sinks as Oil puts the Fed tail back on the table

Wall Street was not hit by one punch. It was caught between three swinging doors at the same time: a renewed technology unwind, a fresh geopolitical oil bid, and a wave of equity supply that is starting to look less like capital formation and more like a liquidity test for the entire AI complex.

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.