The positive data helps the Dollar
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Last updated: Wednesday, May 4, 2016
The miss in the US employment data today gave the US Dollar a short-lived kick. But the remaining data which was released about an hour later was all positive. The trade deficit for April was about $5 billion lower than expected, the services, non-manufacturing PMI and the factory orders all jumped up. But the most important piece of data was the q/q labour costs which came out at 4.1% against 2.9% expected. That helped the USD which is feeling well bid right now. Is this going to turn the things around for the USD?
USD/JPY is nearly 200 pips up from the yesterday´s low
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ABOUT THE AUTHOR
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
