NFP Quick Analysis: America overcomes Omicron, more fuel for the Fed and the dollar by forexcrunch NFP UnitedStates USDollar
The US gained a whopping 467,000 jobs, and on top of massive upside revisions. The Fed is set to reconsider raising rates by 50bp, boosting the dollar. report for January 2022. The economy gained 467,000 jobs, roughly triple the early expectations – and on top of a revision worth more than 300K for December.
On the inflationary front, there is room for Americans to smile when seeing their paychecks – but policymakers to be wary of spiraling prices. Workers received a 0.7% increase on average in January, or 5.7% on a yearly basis. This is still below the, which stood at 7% in December and is set to further rise in the report for January due out next week.
Hawkish moves from the Bank of England and the European Central Bank also put the dollar at a relative disadvantage. But now, the Fed returns to focus on this jobs report and the upcoming inflation figures. may suffer from speculation about borrowing costs, but are comforted by the overall strength of the economy. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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‘Stealth’ Omicron Sub-Variant Detected In 57 Countries, WHO SaysI am a London-based reporter for Forbes covering breaking news. Previously, I have worked as a reporter for a specialist legal publication covering big data and as a freelance journalist and policy analyst covering science, tech and health. I have a master’s degree in Biological Natural Sciences and a master’s degree in the History and Philosophy of Science from the University of Cambridge. Follow me on Twitter theroberthart or email me at rhartforbes.com
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