US employment caused Dollar surge

Source: Dukascopy Bank SA


The United States Bureau of Labor Statistics has published the monthly employment data sets. The released data has caused a surge of the US Dollar of 0.5% over the span of a minute. Afterwards, the Dollar continue to gain, as the momentum had continued. Since mid-Monday, the Dollar index was testing the 104.50 level's resistance.

Non-farm employment change was expected to reveal that 187,000 people had found a job in January. The actual number was almost double at 353,000.

Average Hourly Earnings month on month change had been expected to show a monthly average salary increase of 0.3%. However, the data showed a two times larger increase of 0.6%.

The official Unemployment Rate was expected to have increased from 3.7% in December up to 3.8% in January. Actually, unemployment remained at 3.7%. There was no increase.

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