Data on employment in the USA

The report on employment in the US was very mixed.

• The change in the number of employed in the non-agricultural sector of the USA for February unexpectedly increased to the level of 313K, thereby updating the maximum value of the last two years.
• The number of employees for January was also revised upwards (239K), which had a very positive impact on the attitude towards the US currency.
• At the same time, the unemployment rate unexpectedly remained at the same level of 4.1%.

The main negative factor of the employment report remains a very low level of salary growth – 0.1%, which in the end will act as a deterrent to the growth of the target inflation rate.

As a result of such an ambiguous report on employment in the US, the US currency fluctuates near the opening  level of the day. In turn, the employment report caused a noticeable increase in the probability of rate hikes at the March meeting of the Fed, which is estimated at 90%, which in the end could cause a restrained strengthening of the US dollar against its main competitors.

Graph of the US dollar index. The current price is 90.30.

Hanzenko Anton