Fed's Barkin: Jobs data is more low hire, low fire

Agustin Wazne FXStreet

Thomas Barkin, President of the Federal Reserve (Fed) Bank of Richmond, participated in an online event hosted by the National Association for Business Economics on Friday. He said that the latest employment figures point to a labor market in weak balance rather than one in decline, describing the picture as low hiring alongside low firing. He added that corporate earnings remain strong and that he is watching them for signs of how they feed through to jobs.

Key takeaways:

Jobs data was very consistent with a sector in weak balance.

Jobs data is more low hire, low fire.

The jobs data doesn't feel very good, but it's where it is.

Corporate earnings are quite strong and growing nicely.

We're watching corporate earnings for linkages to the job market.

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Euro.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.30%	-0.31%	-0.47%	-0.57%	-0.49%	-0.38%	-0.59%
EUR	0.30%		-0.02%	-0.13%	-0.24%	-0.20%	-0.09%	-0.28%
GBP	0.31%	0.02%		-0.11%	-0.25%	-0.18%	-0.07%	-0.28%
JPY	0.47%	0.13%	0.11%		-0.11%	-0.04%	0.06%	-0.16%
CAD	0.57%	0.24%	0.25%	0.11%		0.06%	0.19%	-0.04%
AUD	0.49%	0.20%	0.18%	0.04%	-0.06%		0.12%	-0.10%
NZD	0.38%	0.09%	0.07%	-0.06%	-0.19%	-0.12%		-0.21%
CHF	0.59%	0.28%	0.28%	0.16%	0.04%	0.10%	0.21%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

Author

Agustin Wazne

FXStreet

Agustin Wazne joined FXStreet as a Junior News Editor, focusing on Commodities and covering Majors.

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