The dollar received a serious hit from nonfarm payrolls that missed analysts’ estimates by a wide margin. This led to big losses for the greenback despite today’s thin trading.
Nonfarm payrolls rose 126k in March. The rate of growth was almost two times slower than the forecast 246k. On top of that, the previous month’s increase was revised from 295k to 264k. Unemployment rate stayed at 5.5 percent as was expected. Average hourly earnings grew 0.3%, a bit more than forecasts (0.2%) and compared to the growth in the preceding reporting period (0.1%.) (Event A on the chart.)
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