US dollar tumbles after weak nonfarm payrolls

22 October, 2013

The US dollar tumbled 45 pips against the yen in a knee jerk reaction to the weak nonfarm payrolls  (NFP) numbers today, which were below forecast. The dollar also fell against the euro and sterling as well as other major peers, while gold jumped higher.

The US Labor Department report showed that the number of new jobs added to the US economy in September was 148,000 versus the 180,000 expected. The modest hiring last month raises expectations that the Federal Reserve will not scale back stimulus before the end of this year and will likely delay tapering  until March 2014.

Meanwhile, some expect the next jobs report in October to disappoint markets because it will include the period of the US government shutdown, which will likely have an impact on jobs.

USDJPY fell from a pre-NFP data level of 98.31 to 97.86 within a few minutes after the data before bouncing slightly. 

Euro shot up against the weaker dollar, with EURUSD jumping to a high of $1.3745 from $1.3672, currently up 0.3 percent on the day. Sterling rose from $ 1.6128 to $1.6210. 

Gold gained $15 to $1,328.


Source link  
Aussie declines despite shrinking Australian trade deficit

The Asian session was calm as the economic calendar was light and most investors were positioning ahead of key risk events later this week, primarily the US nonfarm payrolls report on Friday...

USD/JPY slips as Nikkei falls in risk-off market after disappointing China PMI data

The first full trading week of 2014 began today, with Japan opening for the first time after a two-week holiday...

Technical Analysis On Major Currencies By FXNET

The pair extended the positive trading, whereas it approached 61.8% correction at 1.3625


Euro Hits Fresh 1-Month High After German Inflation Data

The dollar rose above 102.00 yen for the first time since May 29, while the euro flirted with the key $1.36 handle and hit a new four-year high within striking distance of 139.00 yen...

Aussie Powers Through & Dollar Hits New 6-Month High Against Yen

The best performing currency during Thursday’s Asian session was the Australian dollar which jumped against its US counterpart after strong Australian business spending data. Private Capital Expenditure increased by 3.6% quarter-on-quarter despite expectations for a decline by 1.1%...

Sterling and Euro Outperform Vs US Dollar

The main currency of the day was the sterling which outperformed against the dollar and euro, as well as against the yen after being boosted by strong UK second quarter growth data...


Euro Steady Around $1.35

The euro was stronger today particularly against the dollar and the pound. While there were no economic data releases today from the Eurozone to explain the move, there were some headline news which affected sterling and dollar...

Yen Up Against Dollar After Weak US Data

The yen was supported by safe haven demand today after the release of a slightly dovish Bank of Japan policy meeting minutes. The minute from last weeks meeting showed some concern about Japans economic outlook and whether the central bank 2% inflation target could be met...

EUR/JPY Hits A New 4-Year High

The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in todays Asian session...

  


Share: