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Dollar softens on NFP disappointment

Article by ForexTime

The Dollar was dealt a blow during Friday’s trading session after the U.S economy added a disappointing 148,000 jobs in December. This lack lustre figure is likely stimulate some concerns over the strength of the US jobs markets and slightly weigh on expectations of higher US rates. There is a suspicion that the Dollar’s downside was cushioned by the 0.3% increase in hourly wages which matched market expectations. With December’s US jobs failing to provide Dollar bulls the inspiration needed to jump back into the game, the Dollar Index remains vulnerable to further losses. From a technical standpoint, prices remain bearish on the daily charts as there have been consistently lower lows and lower highs. A breakdown below 91.80 could open a path towards 91.55.

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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