NFP Headline Strong but Details Weak, USD Surges to 100
Non-farm payrolls beat expectations, but hourly earnings fell and participation/unemployment rates showed no improvement. Yields spiked but failed to pressure equities, while the USD surged to the 100 level.
DXY
The latest U.S. non-farm payrolls report delivered a strong headline number, but underlying details were less favorable. Hourly earnings declined, and both the participation rate and unemployment rate failed to show improvement.
Treasury yields initially spiked on the headline beat but have since stabilized, with no further downside progress that would have weighed on equities. The U.S. dollar, however, surged sharply to the 100 mark on the DXY index, continuing a sustained upward move.
Source: FXStreet Forex News