Forex Factory

Everybody was so nervous going in to this morning’s payrolls report that even though employment fell and unemployment rose, markets are looking extremely exuberant. There’s definitely reason here for a small sigh of relief. The private sector added jobs in August — not enough to keep up with popu...

USDJPY: Retains Its Broader Downside Bias. USDJPY: The pair continues to retain its broader downside bias as it looks to recapture its YTD low at 83.58 despite its price hesitation.

The Euro found support below 1.28 against the dollar during Thursday and markets generally were looking to test resistance levels, but ranges were narrow. There was evidence of option positions being defended which curbed the potential for further Euro gains. There were no surprises from the ECB ...

The US ISM non-manufacturing report was very weak, with a particularly weak employment component. This negative report easily trumps all the positive data this week out of the US. How will the market react?

The Federal Reserve's decision to begin buying Treasuries again was a "precautionary" step, not the opening salvo in a new policy course, Atlanta Fed President Dennis Lockhart said on Friday. Lockhart said markets overreacted to the decision, reading a major worsening into the Fed's view of the w...

Service industries expanded in August at the weakest pace in seven months, indicating the U.S. economy may be slow to strengthen in the second half of the year. The Institute for Supply Management’s index of non- manufacturing businesses, which covers about 90 percent of the economy, fell to 51....

New York University Professor Nouriel Roubini said the dollar, the yen and the Swiss franc may be a better investment than gold if the world economy slips back into recession. “If there was a double-dip recession, increasing risk aversion, some assets are going to be preferred, and gold will be o...

Growth slowed in the U.S. non-manufacturing sector in August, hitting 51.5%, compared with 54.3% in July, the Institute for Supply Management reported Friday. Economists polled by MarketWatch had expected a reading of 53.5%. A reading above 50% indicates expansion, while a reading below 50% indic...

The White House stressed on Thursday that no second economic stimulus package is being considered as part of new measures under review by President Barack Obama's team. Obama said on Monday he and his advisers are discussing further tax cuts for businesses to help create jobs, as well as an exten...

Traders held their breath overnight and were rewarded with a surprisingly positive report from the BLS. Not only were the total jobs numbers "less bad" than expected but the report showed improvement in July and more than 60K private sector jobs added in August. That is nothing but good news for...

Stocks rallied, extending the first weekly gain in a month for the Standard & Poor’s 500 Index, while Treasuries and gold tumbled as better-than-estimated growth in private payrolls bolstered optimism the economy will avoid relapsing into a recession.

The USD is hesitating on a clear direction in the aftermath of a much weaker than expected ISM services index. According to the Institute for Supply Management, the services index declined to a reading of 51.5 for August from 54.3, further than expectations for a decline to 53.2. Details of the re...

Nonfarm payrolls in the world’s largest economy tumbled 54,000 in August after falling a revised 54,000 the previous month amid economists’ expectations of -105,000.

The employment report was far stronger than expected as the US data has really tried to turn the corner this week after this report and the ISM manufacturing data. The initial reaction was for a USD sell-off today - but why?

The EURUSD is up testing the 38.% retracement of the move down from the August 6th high to the low on August 24th. That level comes in at the 1.2871 level. The high for the day reached 1.2872 minutes after the NFP report. A break above will target the 1.2900 level where the trendline off recent...

The euro may advance to a three- month high against the pound after the shared currency’s recent sell-off failed to set a new low for the first time since February, RBC Capital Markets said. The 16-nation currency dropped as far as 81.42 pence last month, staying above its June low of 80.68 penc...

The U.S. August employment report is not a game-changer. The employment data were better than on their face, but not so strong as to cause a reassessment of the outlook for weak growth and continued government stimulus. Payrolls printed -54,000 in August, but June-July were revised up +123,000...

USDCAD tests support at the 1.0425 level as key support is broken at the 1.0470 area. Below is the 100 and 200 day MA at the 1.0380 area. The failure to take out the high ceiling at the 1.0677 area earlier in the week and the stronger US employment report has increased the demand for the risk...

Traders report a US bank in London sold about $750 mln USD/JPY into the rally for a macro hedge-fund. It is worth noting that two high-profile funds were big buyers late last week and early this week. Perhaps they are offloading a position that had gone a bit stale after the BOJ rate move Monday did...

Non-Farm Payrolls exceeded expectations and fell by only 54K, nearly half of early expectations. The unemployment rate rose from 9.5% to 9.6% as expected. The initial reaction was a drop of EUR/USD but it immediately rose back up. USD/JPY is going in one direction – up. Private payrolls rise by 67K,...