Economic and fundamental developments 04-02-2022 US session
4 Feb 2022 04:41 PM
The US non-farm payrolls report showed that 467,000 jobs were added in January, easily beating the 110,000 forecast. The unemployment rate ticked up from 3.9% to 4%, average earning on a yearly basis were 5.7%.
Stocks in Europe and the US are down following the healthy US jobs report as there is renewed speculation the Fed will hike rates several times this year.
The strong US jobs report pushed up the US dollar, AUD/USD is down 1%.
USD/CAD is up over 0.8% due to the robust US employment data, and the poor Canadian jobs update. Canada’s unemployment rose from 5.9% to 6.5% and the employment change showed that 200,100 jobs were lost in January