Home

    You are here

US EMPLOYMENT DATA EFFECTS FOREX

You are here

Trade forex on STOCK.com

US EMPLOYMENT DATA EFFECTS FOREX

Nov 10 2014, 1.45pm GMT

Stock.com

Following the opposing employment statistics coming from the States last week, the USD fell against many currencies.

US unemployment rate was down below forecast of 5.9%; actual 5.8% from previous 5.9%.

However, non-farm employment change was also down from 265k to 214k.

Janet Yellen from the FED stated that the employment rate was evidence of a solid economic report but confidence was knocked slightly in the strong dollar bringing the greenback down.

EFFECTS ON FOREX

EURUSD – The downward trend, specifically from last week’s statement from ECB’s Marios Draghi, saw an upturn based on the US employment data.  Since Monday the pair has continue the uptrend from Friday last week, breaking the 1.25 resistance level.

EURUSD trade forex on STOCK.com

USDJPY – Down on Friday to 11420 as the Bank of Japan made statements concerning an increase in GDP. This may have been a correction on last week’s market.

USDJPY trade forex on STOCK.com

USDRUB – The ruble is trying to restabalise and with a 200 pips reversal pattern in evidence a bullish sentiment hit the market in favour of the ruble.

USDRUB trade forex on STOCK.com

USDZAR– Due to the South African rand’s correlation with gold, the country’s staple income, the ZAR gained against the dollar when on Friday gold also went up, causing the ZAR to rise, in addition to the US employment data bringing the dollar down.

USDZAR trade forex on STOCK.com

Trade CFDs on Forex on STOCK.com with full training given to all clients

Forex Block Actions

Trading Platforms

MetaTrader

Through a simple native App download, be ready to log on to the powerful, intuitive MT4 platform and trade multiple assets on your desktop or through mobile

More on MetaTrader

WebTrader

Online access - anytime, anywhere - to your secure STOCK.com account, through desktop, tablet and mobile interfaces with no download necessary

More on WebTrader

Trading in CFDs involves significant risk to your invested capital