The Non Farm Payrolls came better within expectations, at -524K . Immediately after the initial shocks, the dollar stabilized against all the currencies.
Note the Unemployment Rate as well. It now stands at 7.2% . This is worse than 7.0% that was expected.
The Average Hourly Earnings went up by 0.3%, which beat expectations, that stood on a 0.2% rise in earnings.
In previous Non Farm Payrolls days like today, the market made sharp moves for about two hours before settling down for the weekend. The NFP will still be dominant in next week’s forex trade, and in the all forex news.
It’s currently hard to tell the impact of this data, which was very very mixed. NFP sure shakes the market, but no direction was taken.
Update: after long minutes of mixed trading, the US dollar is now gaining a lot ground against most currencies. Only the Japanese Yen is strong.
