What happened after the Nonfarm Payrolls?

13 March, 2017

What happened after the Nonfarm Payrolls?

The U.S. Dollar let the Euro take a significant lead on Friday, despite the release of good labour market data. The labour market data growth came out to be quite a bit weaker than anticipated by the traders.

What comes of the FOMC meeting taking place in March, as odds of the rate hike are at 98%? We have yet to find out. For now, it is wise to wait and see what kind of position the Committee is going to stick with during the week to come.

EUR/USD

We should expect a pullback to happen on Monday following the release of good labour market data. Also, we have touched the level of 1.0678, so the asset should be moved away from the broken descending channel. Let us remind you that there are French elections and ECB going on the other side of this story.

AUD/USD

The Australian currency, we’ve approached a broken descending channel on the weekly chart. The Bullish Engulfing has formed on the daily chart, and it is also touching the horizontal level of 0.7515. IT is a great time to buy this asset.


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