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U.S. Dollar Index gains ground as traders react to the Non Farm Payrolls report, which indicated that U.S. economy added 187,000 jobs in August. Unemployment Rate increased from 3.5% in July to 3.8% in August as Participation Rate grew from 62.6% to 62.8%.
From the technical point of view, U.S. Dollar Index settled above the 103.65 level and is moving towards the resistance at 104.40 – 104.70.
EUR/USD pulls back as traders focus on the rebound in Treasury yields. Today, traders also had a chance to take a look at the final reading of the Euro Area Manufacturing PMI report, which showed that Euro Area Manufacturing PMI increased from 42.7 in July to 43.5 in August.
EUR/USD managed to settle below the previous support at 1.0835 and is moving towards the next support level, which is located in the 1.0670 – 1.0700 range.
GBP/USD
GBP/USD is currently trying to settle below the support at 1.2590 – 1.2620 as traders focus on the general strength of the U.S. dollar.
If GBP/USD settles below the 1.2590 level, it will head towards the next support at 1.2470 – 1.2500.
USD/CAD
USD/CAD rebounds despite the strong rally in the oil markets. Traders focus on rising Treasury yields and the general strength of the American currency.
In case USD/CAD settles above the 1.3600 level, it will head towards the nearest resistance, which is located in the 1.3650 – 1.3670 range.
USD/JPY
USD/JPY moved away from recent lows due to the rebound in Treasury yields. USD/JPY will remain extremely sensitive to the dynamics of Treasury yields due to the ultra-dovish policy of the BoJ.
The support at 144.65 – 145.00 has already been tested several times and proved its strength. A move above the 50 MA will open the way to the test of the recent highs above the 147.00 level.
For a look at all of today’s economic events, check out our economic calendar.
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