Show less
Why I'm looking to sell gold: O'Hare
Steve O'Hare - First 4 Trading
Just now
FX Options webinar: Touch Options
Dan Larsen
Yesterday at 9:54 GMT
Why I'm looking to sell GBPUSD: Coleman
Ian Coleman - First 4 Trading
Tuesday at 7:21 GMT
Macro Monday WK 38: FOMC and more — #SaxoStrats
James Kim@Saxo
Monday at 7:14 GMT
Buy gold on trend support: Lambert
Clive Lambert - FuturesTechs
Friday at 7:34 GMT
GBP jumps after Bank of England rate decision — #SaxoStrats
John J Hardy
14 September 2017 at 13:14 GMT
Options Lab webinar: How to create and analyse option trades
Georgio Stoev
14 September 2017 at 12:21 GMT
Why I'm looking to sell gold: O'Hare
Steve O'Hare - First 4 Trading
14 September 2017 at 7:27 GMT
Three scenarios for trading US-North Korea risk — #SaxoStrats
Kay Van-Petersen
13 September 2017 at 9:33 GMT
Video / 06 January 2017 at 14:47 GMT

Dollar makes stand after strong jobs report - #SaxoStrats

John J Hardy
What does the latest US employment data mean for USD, asks Saxo Bank’s head of FX strategy John Hardy.

Nonfarm payrolls added 156K in December against an expected 178K and unemployment went higher to 4.7%. Average hourly earnings moved to a 2.9% year-on-year gain.

Hardy considers how USD will move in early 2017 following a lacklustre performance at the end of 2016.
07 January
ldan ldan
Hi John Hardy, I don't understand. I thought as Nonfarm was much lower than expected, USD should go down. But it actually went up instead. Why is it so?
08 January
V.Ka V.Ka
Lets get ready to face the biggest dollar rally in history ;)
08 January
Jansen Jansen
Lets get ready to face that we have already seen the low in EURUSD for now. That is my forecast.
We will se 1.10 befpre Easter, I do believe.
09 January
John J Hardy John J Hardy
The payrolls change was in line with expectations if we included the last couple of months of revisions (+19k). The more important development was the rise in average hourly earnings - which was the highest for the cycle at +2.9%. It doesn't matter if the nonfarm payrolls continues to come in under +200k or even down at +150k for a time, if wage pressures increase further, as this suggests labor market tightness.
Relevant articles for you


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail