EURUSD, GBPUSD, USDCHF trade to new USD high levels, but bouncing again. USDJPY fell
The dollar dollar is whipping around and a relatively modest range after the -701K job declines.
The EURUSD moved up to over 1.0800 initially (high reached 1.0805) after the report, then fell back down to a new session low to around 1.0775 before rebounding back again toward the 1.0800 level.
The USDJPY fell below its 200 day moving average at 108.298 on its way to a low price of 108.227. The selling could not be sustained and the price rebounded back above the 200 day moving average. Typically a week report like this would send the USDJPY reeling to the downside, but the price action is modest. The high through the volatile price action reached 108.55 so far.
The GBPUSD – like the EURUSD – initially move higher than moved lower to a new session low at 1.2251. The price has since rebounded to a post employment high of 1.22935. We currently trade at 1.2285.
The USDCHF had a similar price reaction to the EURUSD and GBPUSD. It too snapped back from a brief decline, to a new session high for the day at 0.97824. The USDCHF is moving away from its 100 day moving average down at 0.97380 today. That is a risk level for longs/buyers now.
In other markets treasury yields are still lower but not moving dramatically:
- 2 year 0.228%, unchanged
- 5 year 0.373%, -0 point basis points
- 10 year 0.585%, -1.1 basis points
- 30 year 1.224%, -1.6 basis points
US stocks fell and have since rebounded. They area still lower with the S&P down -6 points. The NASDAQ index down -20 points, and the Dow down -86 points
WTI crude oil futures are still higher with gains of $2.60 or 10.23% at $27.92.