The positive data helps the Dollar


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 

ABOUT THE AUTHOR See More
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.

Related Articles

Comments

0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

HFM

Doo Prime

XM

Best Forex Brokers