US Dollar Forecast – Prices, Charts, and Analysis
- NFPs beat forecasts at 216k, unemployment rate unchanged versus November.
- US dollar rallies, Treasury yields rise, gold slides.
Download our latest US Dollar Q1 Forecast below:
Recommended by Nick Cawley
Get Your Free USD Forecast
The latest US Jobs Report (NFPs) beat market forecasts by a margin, coming in at216k against forecasts of 170k. The November report saw a revision lower from 199k to 173k. Average hourly earnings m/m stayed unchanged at 0.4%, while the annual figure rose to 4.1% against a prior reading of 4% and expectations of 3.9%. The unemployment rate remained unchanged at 3.7%.
DailyFX Calendar
The US dollar rallied further post-release with the US dollar index printing a 103.13 high after opening the session at 102.37.
US Dollar Index
The latest CME FedWatch Tool now shows a near 50/50 chance of a rate cut in March, down from over 73% one week ago.
CME FedWatch Tool
Gold touched a post-release low of $2,025/oz. after opening the session at $2,048/oz. on the back of changing rate expectations.
Gold Price Latest: XAU/USD Seeks Guidance from US NFP Release
Gold Daily Price Chart
Learn How to Trade Gold with our Complimentary Guide
Recommended by Nick Cawley
How to Trade Gold
All Charts via TradingView
What is your view on the US Dollar – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.
