Finally A Break From US Employment Data
Skerdian Meta • 1 min read
This week has been rally tough with all the volatility and stuff. But the US employment report has come to or rescue today. It was a mixed bag of numbers, but the negative elements weigh more in my opinion and the market seems to agree.
The non-farm employment change grew by 70k compared to last month, but the wages/salaries and the unemployment rate disappointed.
The US average hourly earnings came out 2 points lower than expected, at 0.1%, meaning that wages only grew by 0.1% in December, which is not much by any standards. That´s not all though for wages, November´s number was slashed in half as well, from 0.4% to 0.2%.
The US unemployment rate number was not encouraging either, since it moved 0.1% higher to 4.8%. That´s still below the 5% natural unemployment rate, which takes into consideration people who are unemployment for natural reasons such as changing jobs, changing residence, unemployment due to illness/disease, uni graduates who are new to the labour market etc.
The AUD/USD uptrend has resumed again
Well, whatever the numbers tell about the US economy, I´m happy that it went well for that AUD/USD signal. Not that I´m glad that this might be the start of the usual winter economic slowdown in the US, or am I? You must be careful what you wish during times of hardship.
Anyway, we closed that forex signal manually for a 15 pip profit, but it did hit the take profit target shortly after that. One signal/trade in the pocket, let´s look for some other green ones now.