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U.S. dollar doesn't rally after a strong labour market report

al_dcdemo Posted 3 Feb.  in #Trader's blog #USD/JPY #Fed #Nonfarm Payrolls #D1 Chart #Trump Rally #Average Weekly Earnings #U S Administration
U.S. labour market report came in strong with Nonfarm Payrolls at 227K vs. 175K expected. Unemployment Rate (4.8%) ticked up but again in tandem with Participation Rate (62.9%). Average Weekly Earnings (MoM) was the only soft spot, yet that was what the market used as an excuse to sell the dollar.
Cautious Fed and U.S Administration's stance on currencies are likely the main reasons why the bulls hesitated. USD/JPY is holding above 38.2% retracement of the Trump rally. A successful break would p…
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3 Comments
FXRabbit avatar
FXRabbit 3 Feb.

You needed to hit it with a stick, then it was going to listen to you. :P What a crazy day, I could have cashed in +35 pips on USD/JPY but instead ended up closing it for a lose of -10 pips. :P Darn NFP and its hourly wages. >.<

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al_dcdemo 3 Feb.

Can't win them all! Good job taking that 10 pip loss instead of turning it into "investment" or smth like that. And then watch Trump implementing a weak dollar policy.  :)

verindur avatar
verindur 4 Feb.

Accidently I hit the Sell on DUKATS Account  and then corrected it to BUY. Why ? Yes that was a surprise for me too. I guess there will be a late reaction on Monday or Tuesday when USDJPY starts going up. Also it appears that other Currencies have ganged up against the USD perhaps because of Trump.

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al_dcdemo 4 Feb.

Fundamentals favour the upside but in my opinion we will see 110 before 120, if purely for technical reasons.

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U.S. jobs report came in weaker than expected

al_dcdemo Posted 2 Sep.  in #Trader's blog #USD/JPY #Rate Hike #Nonfarm Payrolls #D1 Chart #Average Hourly Earnings #Average Weekly Hours #Commodity Block
Eagerly awaited U.S. jobs and wages report came in weaker than expected. While the headline Nonfarm Payrolls figure came in at a solid 151K, both Average Hourly Earnings and Average Weekly Hours ticked down.
That probably means no September rate hike from the Fed but December remains firmly on the table. U.S. dollar ended the week higher against the euro, the yen and the franc and lower against the pound and the commodity block.
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