Non Farm Payroll Data in
February were recently released by the US Labor Department on Friday (4/3)
shows there has been a significant increase exceeded estimates. But this does
not necessarily make the position of the greenback strengthened, instead look
to move wildly, especially against the major currency such as the Euro and the
Pound.
The US economy recorded a growth
of employment in February by 242k, far past the estimates of economists
predicted a rise in the 195k. While the non-farm payrolls in the previous
period was revised up to 172k from 151k previously amounted.
Non Farm Payroll Data were so
positive this further confirms that the US labor market is really solid and not
affected by the global financial market conditions which are known to move in a
bearish trend this past few days. The good labor market growth data is expected
to be one of the considerations in announcing the Federal Reserve monetary
policy meeting scheduled for the middle of this month.
Positive Non Farm Payroll does
not necessarily make the position directly Greenback rose sharply, even after
the release of the NFP recorded a volatile US dollar that moves up and down
against various major currencies, especially the Euro and the Pound, due to the
weakness in the data component.
Surviving Unemployment Rate At Lowest Level
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Meanwhile the US monthly unemployment
rate reportedly remained close to the lowest level within the last 8 years,
amounting to 4.9 per cent, or the same as the data in the previous period. Non
Farm Payroll data and unemployment rate shows the healthier economic conditions
Uncle Sam throughout the year 2016.
Hourly earnings in February fell
as much as 0.1 percent and became the first decline for almost the past year.
Contrary to previous data which rose 0.5 percent and the previous estimate of
economists also predicted to rise 0.2 percent.
When the news was revealed, the
Greenback has passed its uncertainties and moved lower against the Euro as the
pair EUR / USD is currently at 1.1035 level, up as much as 0:58 percent.
Similar conditions also occur in the GBP / USD which rose 12:42 per cent
against the US dollar and is now trading at 1.4205.
