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The latest data was the Non-farm payroll data in the USA at the end of the year. The data have stayed under the expectations regarding to the December 2016. On the US side, we see that the last non-farm employment data for 2016 (December) is below expectations and an increase of 156 thousand compared to 178 thousand monthly increase in employment expectation. On the other hand, the hourly working revenue announced as similar with the expectations, also the unemployment rate announced as 4.7% for the last month of last year. Although the weakness in monthly employment growth at the first stage of the market is generally at the forefront of the strong stance in wage inflation, the Dollar has increased again.

The first possible effect was so positive on the Dollar side in the global forex market. The traders who are making buying and selling transactions in the market started to take selling positions firstly. Although the unemployment rate is limited to 4.7%, we can say that the situation of wage inflation is more important in terms of Fed. I would also like to note that the increase in monthly employment in the previous month will be revised to 204 thousand. Therefore, we can say that the non-agricultural employment data, which seemed negative in the first place, stood strong in terms of Fed together with the increase in average hourly earnings, and the decline in the coming days may be limited. The latest data from the USA affected many different currency pairs from different countries of the world. Especially, USD/TRY parity has broken new records with the level of 3.64. It was the highest level of the parity at the last years.

The increase in report employment in the health and social services sectors in general is at the forefront. Employment growth is 2.2 million people in 2016, which is 2.7 million people in 2015. Accordingly, the average monthly employment rate in 2016 is 183 thousand people. This figure was 225 thousand people in 2015. Finally, after the first negative effect on the global forex market, the market is providing some recovery signals.

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