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September’s US Nonfarm Payrolls Report and USD Performance

2 months ago
2 months ago


Breaking News: US Dollar Index Soars to Highest Level Since Mid-August

What’s Happening in the Financial Markets Today?

US Dollar Index Continues Weekly Uptrend

  • The US Dollar Index, tracking the USD against major currencies, hits highest daily close since mid-August
  • Investors await key US employment report for September, including NFP, Unemployment Rate, and wage inflation data

    Major Currency Price Changes This Week

  • USD emerges as strongest against Japanese Yen this week
  • Percentage change of USD against major currencies outlined in the table below

    | Currency | USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF |
    |———-|—–|—–|—–|—–|—–|—–|—–|—–|
    | USD | | +1.24% | +1.60% | +2.87% | +0.36% | +0.90% | +2.16% | +1.26% |
    | EUR | -1.24% | | +0.36% | +1.60% | -0.85% | -0.27% | +0.93% | +0.13% |
    | GBP | -1.60% | -0.36% | | +1.37% | -1.21% | -0.64% | +0.57% | -0.27% |
    | JPY | -2.87% | -1.60% | -1.37% | | -2.39% | -1.96% | -0.66% | -1.51% |
    | CAD | -0.36% | +0.85% | +1.21% | +2.39% | | +0.59% | +1.80% | +0.99% |
    | AUD | -0.90% | +0.27% | +0.64% | +1.96% | -0.59% | | +1.21% | +0.37% |
    | NZD | -2.16% | -0.93% | -0.57% | +0.66% | -1.80% | -1.21% | | -0.86% |
    | CHF | -1.26% | -0.13% | +0.27% | +1.51% | -0.99% | -0.37% | +0.86% | |

    Market Reactions and Expectations

  • NFP expected to rise by 140,000 after August’s 142,000 increase, Unemployment Rate forecasted at 4.2%
  • USD Index fluctuates below 102.00 ahead of data releases
  • US stock index futures trade mixed, reflecting cautious sentiment
  • Weekly jobless claims rise to 225,000, ISM Services PMI improves to 54.9 in September

    Currency Pair Highlights

    EUR/USD

  • EUR/USD closes fifth consecutive day in negative territory
  • Pair struggles to gain momentum, trades above 1.1000

    GBP/USD

  • GBP/USD declines over 1% on Thursday
  • Positive correction on Friday, trades above 1.3150

    USD/JPY

  • USD/JPY rises above 147.00 for the first time since early September
  • Retreats below 146.50 in Asian trading on Friday

    Gold (XAU/USD)

  • Gold drops below $2,640 on Thursday, rebounds in American session
  • Trades around $2,660 in a narrow range on Friday

    Nonfarm Payrolls FAQs

    What are Nonfarm Payrolls (NFP)?

  • NFP measures change in US employment, excluding farming industry, in the previous month

    How do NFPs Impact the Market?

  • NFP figures influence Federal Reserve’s decisions on employment and inflation
  • Positive NFP results strengthen USD, while lower figures may lead to rate cuts

    Relationship Between NFPs and Gold Prices

  • Higher NFPs can depress Gold prices due to USD strength and interest rate impact

    Components Influencing NFP Reactions

  • NFP is part of a larger jobs report, other components like Average Weekly Earnings can affect market responses

    Stay tuned for more updates on the financial markets and how they impact your investments and financial future.

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