Singapore
2020-04-06 16:42
Market analysisUSD Overview
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Market analysis:
Last Friday, USD strengthened against all major currencies.
The U.S. jobs report will be released last Friday was overall worse than forecasted.
- Average Hourly Earnings m/m (Actual: 0.4%, Forecast: 0.2%, Previous: 0.3%)
- Non-Farm Employment Change (Actual: -701K, Forecast: -100K, Previous: 273K)
- Unemployment Rate (Actual: 4.4%, Forecast: 3.8%, Previous: 3.5%)
USD strengthened despite the overall poor jobs report with the possibility that the released jobs report only covered payrolls up to the week containing March 12, when people are still going to work. In short, more unemployed cases after the week of March 12 were not covered in the jobs report released last week.
Also, the ISM Non-Manufacturing PMI data (Actual: 52.5, Forecast: 43.5, Previous: 57.3) released was better than forecasted, indicating that the services sector in the U.S. was still expanding last month.
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USD Overview
Singapore | 2020-04-06 16:42
Last Friday, USD strengthened against all major currencies.
The U.S. jobs report will be released last Friday was overall worse than forecasted.
- Average Hourly Earnings m/m (Actual: 0.4%, Forecast: 0.2%, Previous: 0.3%)
- Non-Farm Employment Change (Actual: -701K, Forecast: -100K, Previous: 273K)
- Unemployment Rate (Actual: 4.4%, Forecast: 3.8%, Previous: 3.5%)
USD strengthened despite the overall poor jobs report with the possibility that the released jobs report only covered payrolls up to the week containing March 12, when people are still going to work. In short, more unemployed cases after the week of March 12 were not covered in the jobs report released last week.
Also, the ISM Non-Manufacturing PMI data (Actual: 52.5, Forecast: 43.5, Previous: 57.3) released was better than forecasted, indicating that the services sector in the U.S. was still expanding last month.
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