Daily FX Wrap Up

Friday’s economic numbers gave a huge boost to the US Dollar against all major currencies on the back of better employment numbers. The non-farm payroll number for October was lower than expected, however the number for the prior month, September, was revised significantly higher. The unemployment rate came in at 4.4%, which was better than expected. The US Dollar pushed higher across the board on Friday, as the market focused on what the employment number means for the US economy. The Federal Reserve and the possibility of further rate hikes could potentially support the US Dollar. Today, a slow rise in the Dollar showed that the news boom from Friday might be sustainable. With only a small amount of news this week, many traders are looking for signs that the Dollar might break the mid-term trend and have a bit of a rally. The EUR / USD / JYP pair started the day at 118.100 level, and ended near 118.40 for the US session. XPRESSTRADE Analyst David Hilgeman