April Non-Farm Payroll

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Today’s Non-Farm Payroll figures are expected to be around 200K, lower than last months 236K.

If they are even lower, we could expect to see the USDJPY slow down it’s rally.

8:30 am EST will be when the figure is released.

The unemployment rate is expected to stay the same at 7.7 percent.

I will follow up with the figures and more analysis later today.

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Update:

The non-farm payroll figure was released at 88k, significantly lower than economist’s expectations. We are seeing some USD weakness in the market. At the same time we see the USD gaining against some currencies such as the JPY and the CAD.

The United States unemployment rate did lower from 7.7% to 7.6%.

The USD/CAD has much more to do with CAD weakness than USD strength. Canada’s employment change figure was shown to be -54.5k and their unemployment rate rose to 7.2.

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