After Strong NFP Report, Dollar Strengthens and 10-Year Yields Surge to 1.6
Login

After Strong NFP Report, Dollar Strengthens and 10-Year Yields Surge to 1.6

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

The dollar continued to rise early in the US session following the release of a much stronger-than-expected nonfarm payroll report. The yield on the 10-year bond also rose sharply and is now over 1.6 again. The dollar is currently the second strongest in a week, behind only the oil-backed Canadian dollar. Although the Swiss franc and the yen are trying to recover against other currencies, in particular against commodity currencies, both of them still post the worst results in a week.

The number of people employed in the non-agricultural sector of the United States in February rose by 379 thousand, well above expectations of 148 thousand. The previous month’s figure was also sharply revised from 49 thousand to 166 thousand. Overall, total non-farm employment continued to decline by -9.5 million, or -6.2%, compared to the pre-pandemic level in February 2020.

The unemployment rate fell to 6.2% from 6.3%, better than expected at 6.4%. average hourly earnings rose 0.2% MoM, in line with expectations. The labor force participation rate remained at 61.4%. The US trade deficit widened to -68.2 billion US dollars in January against expectations of -67.5 billion US dollars. Canada’s trade surplus was C $ 1.4 billion against expectations of C $ 1.4 billion.
US Dollar Index (DXY) Hits 2021 High, Rises Past 92.00
The index remained at 92.00 on Friday after the US nonfarm employment index largely beat forecasts in February. The economy added 379,000 jobs and increased the previous print volume to 166,000.

After the First Reaction, the US Dollar Index (DXY) jumped to its highest level since late November at 92.14. At the time of writing, the DXY is up 0.5% on the day to 92.10. The dollar’s march northward remains unchanged and is trading at new 2021 highs above the 92.00 barriers tracked by the United States Dollar Index (DXY).

The dollar’s push above 92.00 was also helped by the yield on the 10-year US benchmark, which briefly tested levels above the 1.60% benchmark for the first time since February 2020. The dollar continues to outperform its peers following the report and the US dollar. The index was last up during the day at 92.00.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News