[vc_row full_width=”stretch_row” css=”.vc_custom_1531732107238{background-color: #fcc118 !important;}”][vc_column]

[/vc_column][/vc_row][vc_row css=”.vc_custom_1531730959461{border-bottom-width: 1px !important;background-color: #f9fafb !important;border-bottom-color: #eef3f7 !important;border-bottom-style: solid !important;}”][vc_column css=”.vc_custom_1531891416301{margin-bottom: 0px !important;}”][bsfp-cryptocurrency style=”widget-6″ align=”auto” columns=”2″ scheme=”light” coins=”top-x-coins” coins-count=”8″ coins-selected=”” currency=”USD” title=”Cryptocurrencies” show_title=”0″ icon=”” heading_color=”” heading_style=”default” bs-show-desktop=”1″ bs-show-tablet=”1″ bs-show-phone=”1″ css=”.vc_custom_1531730265600{margin-bottom: 0px !important;}” custom-css-class=”” custom-id=””][/vc_column][/vc_row]

US Dollar Slumps After NFPs Miss Expectations, US Equities Bid


US Dollar Slumps After NFPs Miss Expectations, US Equities Bid

Recommended by Nick Cawley

Get Your Free USD Forecast

For all economic data releases and events see the DailyFX Economic Calendar

The latest US Jobs Report showed hiring slowed in April with just 175k new jobs added compared to forecasts of 243k and an upwardly revised 315k in March (from 303k). Average hourly earnings y/y fell by two-tenths of a percentage point to 3.9%, while the unemployment rate ticked 0.1% higher to 3.9%.

Today’s release pushed market expectations of rate cuts higher, with the latest probabilities showing around 50 basis points of rate cuts this year. At the start of the week, this figure was around 28 basis points. According to market forecasts, a September rate cut is now fully priced in.


Learn how to trade data and news events with our free, expert guide.

Recommended by Nick Cawley

Trading Forex News: The Strategy

The US dollar fell sharply post-NFP release with the dollar index breaking through the 105.00 level with ease. The next level of support, the 38.2% Fibonacci retracement level, is seen at 104.38.

US Dollar Index Daily Chart


US indices pushed higher after the Jobs Report with Nasdaq futures adding 200 points before drifting a touch lower…

Nasdaq Futures 10 Minute Chart


…while the S&P futures added just over 40 points.

S&P 500 Futures 10 Minute Chart


of clients are net long.

of clients are net short.

Change in Longs Shorts OI
Daily -11% 8% -1%
Weekly -6% 8% 2%

What are your views on the US Dollar – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

element inside the element. This is probably not what you meant to do!
Load your application’s JavaScript bundle inside the element instead.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More