{"id":56165,"date":"2021-12-03T19:19:01","date_gmt":"2021-12-03T15:19:01","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=56165"},"modified":"2021-12-03T19:19:09","modified_gmt":"2021-12-03T15:19:09","slug":"usd-remains-resilient-despite-disappointing-nfp","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/usd-remains-resilient-despite-disappointing-nfp\/12\/03\/market-updates\/","title":{"rendered":"USD Remains Resilient Despite Disappointing NFP"},"content":{"rendered":"\n<p>US Nonfarm Payrolls rose at a much slower pace than expected in November. However, an underwhelming print did little to undermine the USD. <br><br>It will be very difficult to sell the USD as a thematic strategy given the global monetary policy setup. Fed&#8217;s hawkishness to be a significant offset to a USD retreat<br><br>Payrolls were +210K, well below expectations, and revisions added a relatively modest 82K. Hourly earnings were also not as strong as expected: +0.3% MoM and 4.8% YoY. In contrast, the household survey data were extremely strong, with unemployment down 0.4pt to 4.2%, even with a 0.2pt rise in the participation rate.<br><br>With a hawkish Fed profile in place (faster taper and likely hawkish SEP forecasts), USD dips should be shallow particularly versus funding currencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US Nonfarm Payrolls rose at a much slower pace than expected in November. However, an underwhelming print did little to undermine the USD. It will be very difficult to sell the USD as a thematic strategy given the global monetary policy setup. Fed&#8217;s hawkishness to be a significant offset to a USD retreatPayrolls were +210K, &hellip;<\/p>\n","protected":false},"author":13,"featured_media":54578,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6885,7859,7580,6892,6871],"class_list":["post-56165","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-fed","tag-jobless-data","tag-monetary-policy","tag-nfp","tag-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/56165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=56165"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/56165\/revisions"}],"predecessor-version":[{"id":56169,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/56165\/revisions\/56169"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/54578"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=56165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=56165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=56165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}