The January employment report showed figures mostly higher than expectedwhich brought up the dollar in the market. The nonfarm payrolls increased by 467,000, well above 150,000. In turn, the December figures were revised up from 119,000 to 510,000.
The rise in payrolls was surprising, not only because of the revision and being above expectations, but after the figures in the ADP report and other indicators, the analysts’ bias was towards a negative surprise.
The unemployment ratewhich was expected to remain at 3.9% rose to 4%, with an increase in the labor participation rate from 61.9% to 62.2%.
As regards the incomethe average for now rose 0.7% in January, above the 0.5% expected, and 5.7% compared to twelve months ago.
The dollar gained momentum after the data and rose, as did Treasury yields. The 10-year rate climbed to 1.88%.
Source: Fx Street
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