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US Job Data - Ugly or Beautiful?

Simon Alagbe

Analyst


News filtering out of the white house shows that the eagerly awaited jobs report being released this Friday could be overstated due to the brief absence of workers caused by the omicron variant of the novel coronavirus. Some of the White officials warned that this week' release may not depict the actual situation of things, as they conducted the surveys when absences because of illness were at the peak.

The release of ADP Non-Farm Employment Change, a data believed to be a precursor to Non-Farm Employment Change, showed that private firms in the US shed 301,000 workers from their payrolls in January, the highest recorded since April 2020. But the market reacted differently to this data as the Greenback regained some lost ground immediately as market participants kept in mind the warnings of Fed and White House officials ahead of the releases. Traders would have to approach the job data to be released Friday Cautiously because of the reaction witnessed on Wednesday. 


Data to be released 2:30 PM Friday 04/02/2022 (GMT+1)

Employment Change (CAD)

Unemployment Rate (CAD)

Average Hourly Earnings m/m (USD)

Non-Farm Employment Change (USD)

Unemployment Rate (USD)


Instruments

Currencies: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCAD*, USDCHF, USDJPY

Commodities: GOLDs (XAU/USD), SILVER (XAG/USD)

Index: US30, US100, US500, US 2000.


* data expected on the two currencies

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