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Forex: Cracking Non Farm Payroll

The dollar is bouncing following today’s non-farm payroll which has seen the largest number of new jobs created in any one month since 2012.  On top of this the unemployment rate fell far greater than expected to 6.3% from 6.7%, when the consensus was for it to fall to 6.6%.  This has brought forward a little market expectations for the first rate hike from the Federal Reserve, which is still pencilled in for the middle of 2015, but the main question is whether this triggers the dollar strength that so many have been calling for so far in 2014.

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