Dollar Firms on Stellar Jobs Report
The US jobs report was a real showstopper, with Nonfarm Payrolls smashing expectations - and you'd have noticed the dollar got a nice boost from it. It wasn't a huge move, but the greenback's definitely looking firmer against its major peers, especially after that stellar employment report. And honestly, it's not that surprising, given the Fed's been talking tough on inflation lately. If you were watching EUR/USD, you'd have seen it dip a bit, but it's still holding above 1.15 - which was pretty wild, considering the US data was that strong. The pound's also looking a bit shaky, but it's still hovering around 1.32 against the dollar.
But what's really interesting is how the yen's reacting - USD/JPY's basically flat, despite the dollar's gains elsewhere. FXStreet pointed out that lingering intervention fears are supporting the Japanese yen, which is keeping a lid on the pair. And according to DailyFX, the US Dollar's still looking firm against its major peers, despite some mild downside bias in USD/JPY. The aussie's also taking a hit, reversing earlier gains after that strong US jobs report - AUD/USD's down a bit, but it's still above 0.67.
You'd think the Canadian dollar would be taking a bigger hit, given the US employment report nearly tripled economists' projections, but USD/CAD's only up about 0.14% - not a huge move, but still a move in the right direction for the greenback. And if you look at the closing rates, you'll see the dollar's basically flat against the yen, at 159.5920, while the pound's still at 1.3205 and the euro's at 1.1525.
The euro's also looking a bit stagnant, stuck at 0.8728 against the pound - which is honestly a bit surprising, given the US data was so strong. But hey, that's just the way it goes sometimes. And with the ISM Services PMI and other data coming out today, we've got a lot to look forward to - or worry about, depending on how you're positioned. What's coming next is anyone's guess, but one thing's for sure - it's gonna be a wild ride.
Dollar Strength Dominates
But what's really interesting is how the yen's reacting - USD/JPY's basically flat, despite the dollar's gains elsewhere. FXStreet pointed out that lingering intervention fears are supporting the Japanese yen, which is keeping a lid on the pair. And according to DailyFX, the US Dollar's still looking firm against its major peers, despite some mild downside bias in USD/JPY. The aussie's also taking a hit, reversing earlier gains after that strong US jobs report - AUD/USD's down a bit, but it's still above 0.67.
You'd think the Canadian dollar would be taking a bigger hit, given the US employment report nearly tripled economists' projections, but USD/CAD's only up about 0.14% - not a huge move, but still a move in the right direction for the greenback. And if you look at the closing rates, you'll see the dollar's basically flat against the yen, at 159.5920, while the pound's still at 1.3205 and the euro's at 1.1525.
The euro's also looking a bit stagnant, stuck at 0.8728 against the pound - which is honestly a bit surprising, given the US data was so strong. But hey, that's just the way it goes sometimes. And with the ISM Services PMI and other data coming out today, we've got a lot to look forward to - or worry about, depending on how you're positioned. What's coming next is anyone's guess, but one thing's for sure - it's gonna be a wild ride.
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