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

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