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FOREX FORECAST - ANALYSISFOREX MARKET NEWSUSD OVERVIEW

ByJin Dao Tai

 MAY 10, 2021

Last week, USD weakened against all major currencies.

The Nonfarm Payrolls employment report released last Friday indicated a strong decline in the number of jobs being added into the U.S. economy in April. The number of jobs added in March was also revised downwards. Furthermore, the unemployment rate inched up as opposed to an expected fall. As a result of this poor report, USD weakened across the board.

• Average Hourly Earnings m/m (Actual: 0.7%, Forecast: 0.0%, Previous: -0.1%)
• Non-Farm Employment Change (Actual: 266K, Forecast: 990K, Previous: 770K revised from 916K)
• Unemployment Rate (Actual: 6.1%, Forecast: 5.8%, Previous: 6.0%)