USD Overview (11 January 2021)

Last Friday, USD strengthened against most major currencies except AUD.

The U.S. Non-Farm Payroll data released last Friday indicated the first month of job losses in 8 months ever since the recovery of the job market in May while unemployment rate remained the same as in November. Average hourly earnings increased due to the loss of jobs from the lower-wage category, thus bringing the average up.

• Average Hourly Earnings m/m (Actual: 0.8%, Forecast: 0.2%, Previous: 0.3%)
  
• Non-Farm Employment Change (Actual: -140K, Forecast: 68K, Previous: 336K revised from 245K)
  
• Unemployment Rate (Actual: 6.7%, Forecast: 6.8%, Previous: 6.7%)
  

Over the weekend, the U.S. House of Representative speaker Nancy Pelosi announced that the House will be voting to push Vice President Mike Pence to invoke the 25th Amendment to remove President Trump from office.