StockMarketWire.com - Following the month-on-month increases seen in the addition of US jobs in January, the data was not enough to stem the tide of losses across the majority of crosses.
As the data was released, no great swing was seen in either direction following a period of consolidation in the hours leading up to the release between $1.3654 and $1.3640. Following the release, markets moved slightly to the downside at $1.3632 before quickly reversing the trend moving to $1.3671.
US dollar pairs continue to under perform at a time which is seeing highs in both the Dow Jones Industrial Average (DJI) and the S&P500, with the former pushing through 14,000 on Friday, a level not seen since 2007. At the same time frame and trading with an inverse correlation, the US dollar index is pushing lower. This is likely a sign of the risk-on sentiment now inerrant in the market.
US dollar pairs traded higher for the most part today on the back of the good jobs numbers, strengthening against GBP/USD -0.35% £1.5766, USD/JPY +0.3% ¥92.35, AUD/USD -0.21% $1.0395 among the biggest movers on the day.
At 3:42pm:
Story provided by StockMarketWire.com
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