Forex Top Team

Dollar exchange rate experiences volatility, as US employment growth slows, but unemployment rate declines.

Non-farm payrolls increased by 187,000, falling short of the market’s expectation of 200,000. The previous figure was revised downward from 209,000 to 185,000. On the other hand, the unemployment rate declined to 3.5%, below both the previous rate and market expectations of 3.6%. Wage growth remained steady, with a month-on-month increase of +0.4% and a year-on-year increase of +4.4%, surpassing market forecasts.

As of now, the focus is on the weak US employment data, leading to a strengthening of USD selling. Based on this, I have taken a significant long position on EURUSD.