USD broadly lower post-NFP

USD/JPY fell as the dollar succumbed to the pressure of sharply lower US yields after Non-Farm Payrolls missed expectations. NFP came in at 214k versus a forecast of 231/235k. USDJPY eased down to 114.23 from a pre-data high of 115.58. The pair closed on Friday at 114.62.

EUR/USD became volatile after the headline NFP missed forecasts. The pair initially spiked up to 1.2443 from the pre-data 1.2375. Broad based bear pressure on the USD took hold. With US yields unable to mount a comeback a large wave of USD sales hit the market. EUR/USD hit a 1.2470 high. Focus turns to Eurozone third quarter GDP data and October CPI data from several Euro area nations.

GBP/USD whipped around 1.5791/1.5861 after the below-forecast nonfarm payrolls and hit as high as 1.5876. It closed the week at 1.5861. Earlier on Friday sterling had sold off after the larger than forecast GBP 9.8bn trade deficit (-9.4bn f/c )

USD/CHF pulled back but suffered little technical damage despite sharply lower US rates and higher Gold prices after a weaker than expected Non-Farm Payroll figure. It finished the NY session on Friday at 0.9662.

AUD/USD was below 0.8600 into NY’s open and the US jobs report. The headline miss to NFP spiked USD lower and AUD/USD hit 0.8635 then 0.8658. If China’s economic reports on October trade and inflation data show topside surprises, this would help buoy AUD.

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