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Market View

Reviewing USD pairs after NFP

Monday, March 13, 2017 6:03 AM GMT

February’s payroll report came in better than estimated, 235k actual versus 190k expected.  Interesting enough, Labor force participation was increased to 63% (Prev: 62.9%) and Average hourly Earnings stayed unchanged, however the US dollar fell against its main rivals, having its biggest one-day drop since January. 

Indeed the market has already priced in the Fed’s rate hike in March and most likely to happen in next week’s FOMC’s meeting. However, this doesn’t prevent further weakening of the Dollar. 

A hot week is ahead of us with regards news. We are expecting many important events that will increase the volatility substantially. Draghi will have a speech later today while on Wednesday FOMC’s meeting will take place. Thursday, BOJ will announce its monetary policy and BOE its interest rate decision. 

On Friday, we reviewed the major USD pairs and created potential trading plans following NFP report. 

Let’s see what happened after the event.

EURUSD

GBPUSD

AUDUSD

USDJPY

USDCHF

USDCAD