Home / Forex & Currency Exchange News / Solid NFP seals March hike deal

Solid NFP seals March hike deal

Article by ForexTime

The market expectations of a probable US interest rate increase in March were fully cemented by February’s solid NFP headline figure of 235k which illustrated steady growth in the US labour markets. Although average hourly earnings may have missed expectations, the unemployment rate fell to 4.7% simply displaying US labour force resilience in a period of uncertainty. Economic data from the States continues to follow a positive trajectory and with the positive US jobs data adding to the basket, the prerequisites needed for the Fed to pull the trigger next week have been successfully achieved.

Although some concerns may still linger in the background regarding the ongoing Trump uncertainties, today’s data has visually shown that wages grew and employment rose in the first month of Donald Trump’s presidency. The overall economic outlook for the US continues to look encouraging with further gains expected on the Dollar as speculators bet on the Fed raising US interest rates beyond March.

It should be kept in mind that the depreciation of the Dollar following the firm US jobs data has nothing to do with a change in sentiment, but potential profit-taking ahead of the weekend. The technical correction may come to an abrupt end with bulls back in action when the Federal Reserve raises US interest rates next week.

From a technical standpoint, the Dollar Index bulls need a solid break and weekly close above 102.00 to open a path higher towards 102.50.

Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.


Forex-Time-LogoArticle by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

Click Here For Original Source Of The Article

About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

Check Also

Daily Market Report – GBP/USD Downside Prevails September 21, 2017

Daily Market Report – GBP/USD Downside Prevails September 21, 2017

By Mexgroup.com GBP/USD Retreat Favored The currency pair seems too exhausted to climb much higher at this moment, so it could come down to retest a support level before will reach and retest a support level. It looks undecided right now also because the USDX has decreased a little again. The greenback needs a bullish […]

Leave a Reply

Your email address will not be published. Required fields are marked *

css.php