Forex Market Reactions to a Flat Non-Farm Payroll

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The Non-Farm Payroll, which comes out first Friday of each month looks at the jobs data in the previous month from the private sector. August posted a flat 0 - no growth, failing forecast of 74K. July's was also revised down from 117K to 85K. The poor data invites risk aversion and higher prospect of QE3. USD crosses were schizophrenic. CAD-weakness held tighter, but eventually pared. CHF strength also pared after initially extending after the release. Gold shows bullish continuation breaking out of this week's consolidation.

Fan Yang CMT
Chief Technical Strategist
FXTimes

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Category:

News & Politics

Tags:

• currency
• forex
• market
• non-farm payroll
• employment
• job
• trading
• analysis
• risk

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