| Videos | Channels | Search |
Hardy: Why the US jobs' market is actually strong
Friday's US jobs report was actually quite strong; the view of Saxo Bank's Head of FX strategy, John Hardy. That's despite the headline figure again coming in far lower that what was expected. January's nonfarm payrolls showed 113,000 new jobs were created in January. Bad weather in the US is being blamed for the second poor reading in a row.
John, however, points to other data points which suggest the US labour market is doing just fine. He says the participation rate is actually rising and the unemployment rate is falling, it's now at 6.6%. That's a five year low.
John suggests that March is likely to be the game changer month. There's increased specualtion the European Central Bank may take more decisive easing measures. He also points to the coming week - the markets will be eagerly anticipating Janet Yellen's testimony before Congress, her first since she became the new Fed Chair.
01:52 minutes
Tags: 6.6%, action, amerca, american, communications, congress, december, dollar, ecb, eur, euro, euro dollar, european central bank, eurusd, february, fed, federal reserve, fomc, forex, game changer, janet, january, jobless, jobs, jobs', labor, labour, low, march, market, markets, news, non farms, nonfarm payrolls, nonfarmpayrolls, participation, rate, rhetoric, saxo, saxo tv, strong, tapering, tradingfloor.com, tv, us, usdeur, video, yellen