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Forex: EUR/JPY benefits from US NFP and moves to 129.50

FXstreet.com (Barcelona) - The USD/JPY rally seen after the US nonfarm payrolls report had a positive effect on the EUR/JPY, and from 128.50 the cross jumped by 100 pips to 129.50 in order to trade +1.20% higher on the last day of the week. The market is still below yesterday’s high of 129.91 that was printed after the ECB rate cut by 25bp to 0.50%, and quickly retraced in reaction to Draghi’s open mind regarding negative deposit rates.

The US nonfarm payrolls surprised investors as the March weakness was revised higher by 50K, from 88K to 138K. Also, April data came in above market consensus, at 165K instead of 145K.

“The EUR/JPY has moved out of its declining channel. Monitor the resistance at 129.91. Supports can be found at 127.06 and 126.44”, wrote MIG Bank analysts Bijoy Kar and Luc Luyet.

Forex: GBP/USD bounces back above 1.5500

The Sterling dipped briefly below 1.5500 and printed a fresh daily low in the knee-jerk reaction to the US employment data, which showed US economy added more jobs than expected, the unemployment rate edged lower to 7.5% while March and February figures were upwardly revised.
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Forex: EUR/GBP again around 0.8400 support on NY time

The EUR/GBP was also affected by the widely expected employment report in the US, and a total of 70 more jobs than expected (with April data and March revision) made the market wobble. The 0.8450 line remains a resistance hard to beat today and after touching 0.8449 high, the cross was poured down to the base of 0.8400, to 0.8408 low, around where the cross found support yesterday.
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