US DOLLARS DIRECT
- USD / JPY jumped 25 points higher immediately after the publication of non-agricultural payrolls
- US dollar is generally stronger than expected with better help NFP report
- The NFP showed 943,000 jobs in July and the unemployment rate fell to 5.4%
- Look at us Real-time news page for news and analysis
The U.S. dollar is trading in the forefront this morning as traders digest the final round of monthly non-farm payroll calculations. The main NFPs in July were 943,000 and exceeded the consensus forecast of 870,000. The unemployment rate exceeded the wires by 5.4%, which was also better than the 5.7% expected by the markets. The strength of the US dollar after the NFP report is likely to be in line with market pricing, which is more likely to be accelerated by the Fed narrowing time scale and treasury yields move up the curve.
USD / JPY PRICE CARD: DAILY FRAME (MARCH 19 TO AUGUST 6, 2021)
USD/JPY immediately after the publication of the NFP report, price activity rose by 25 points and looks beyond its declining wedge pattern. The potential for USD / JPY strength was hinted earlier this week bullish absorbing candlestick printed on Wednesday. Confirmation above the upper declining trend line may confirm the recent reversal of the USD / JPY and bring the July highs back to the focus of the US dollar bulls. This scenario may be more justified if we continue to see pressure on treasury yields, given the positive relationship between USD / JPY and interest rates.
Connect @RichDvorakFX Get a real-time market overview on Twittert