According to the official U.S. labor market report, 211,000 jobs were created in the non-agricultural sector in November, while analysts expected a rise of 201,000.
The previous figure was revised upward from 271,000 to 298,000.
The unemployment rate remained unchanged at 5.0%.
Nonfarm Payrolls: Expecting a Fed Rate Hike
A strong labor market report is another reason for the Fed to increase the interest rate at its meeting on December 16. However, amid the results of yesterday’s ECB meeting, the euro/dollar currency pair tried to decline following the NonFarm Payrolls report, but ultimately continued to rise.
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About the EUR/USD exchange rate
- Speech by Yellen: Chair of the Fed strengthened the USD and belief in a rate hike in December
- Forex wave analysis for December: EUR/USD and GBP/USD – poor prospects, USD/JPY – buy signals
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“excerpt”: “NonFarm Payrolls report exceeded expectations and impacted the EUR/USD pair. Did the rates hold?”,
“slug”: “nonfarm-payrolls-affect-eur-usd”,
“short_description”: “NonFarm Payrolls report beat expectations and affected the EUR/USD pair. Did the rates hold?”,
“faq_html”: “
FAQ
What is the NonFarm Payrolls report?
The NonFarm Payrolls report is a monthly employment data release that measures the number of jobs added or lost in the U.S. non-agricultural sector.
How does the NonFarm Payrolls report affect the EUR/USD pair?
The report can influence the EUR/USD pair by affecting the perceived strength of the U.S. economy and the likelihood of a Federal Reserve rate hike.
What was the impact of the latest NonFarm Payrolls report on the EUR/USD pair?
The latest NonFarm Payrolls report showed stronger-than-expected job growth, which initially pressured the EUR/USD pair but it eventually continued to rise.
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