The dollar fell after US jobs data came in short of expectations
Jobs numbers out of the US disappointed coming in 15K shy of expectations with a miss in wage growth. The dollar was sent lower on the news. Canadian jobs data came in ahead of expectations sending the loonie higher versus the greenback. Phase I of the US-China trade deal is set to be inked next week adding risk-on sentiment to the market.
January 10, 2020
EUR/USD 1.1098 GBP/USD 1.3071 USD/CAD 1.3039 AUD/USD 0.6887 USD/JPY 109.61 USD/CNH 6.9177 USD/ILS 3.4681 USD/MXN 18.79 USD/CHF 0.9748 USD/INR 70.94
After three days of gains, the greenback sank after US employment numbers for December disappointed showing payrolls rising 145K – 15K short of estimates. Average hourly earnings showed an increase of 2.9% YOY versus 3.1% expected. Unemployment rate held steady at 3.5%.GBP
After a slight drop yesterday following BoE governor Carney’s dovish comments, the pound recouped some losses driven mostly by a miss in US jobs data.EUR
The euro rose briefly 0.1% to 1.114 session highs and was slowed by large 1.11 expiries over the next few days. The euro was driven higher also on a drop in the dollar due to a miss on US payroll numbers.CAD
Strong job numbers out of Canada drove the loonie higher. Employment rose 35.2K in December smashing expectations of 20K. Unemployment also dropped from 5.9% to 5.6%.ASIA/PACIFIC
The safe-haven Japanese yen weakened amid expectations that phase I of US-China trade pact will be signed next week leading to an increase in risk appetite.