Dollar Jumps on Strong Job Growth, Loonie Pressured after Employment Data
Dollar rebounds broadly in early US session after positive surprise in job data. However, upside is relatively limited at the time of writing, capped by disappointing wage growth. For now the greenback remains the weakest one for the week. Canadian Dollar’s fortune reversed after much worse than expected employment data. It’s not the worst performing one for today, and second worst for the week.
Technically, despite the strong rebound in the greenback, there are a few near term levels to take out. Those include 1.1066 minor support in EUR/USD, 0.6813 minor support in AUD/USD. 0.9926, minor resistance in USD/CHF, 109.20 minor resistance in USD/JPY. At least, these levels should be taken out firmly to indicate bottoming in Dollar in general.
In Europe, currently, FTSE is up 1.03%. DAX is up 0.49%. CAC is up 0.77%. German 10-year yield is up 0.0080 at -0.284. Earlier in Asia, Nikkei rose 0.23%. Hong Kong HSI rose 1.07%. China Shanghai SSE rose 0.43%. Singapore Strait Times rose 0.65%.Japan 10-year JGB yield rose 0.022 to -0.017
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