EUR/USD is dipping below the double bottom to new 2012 lows. GBP/USD is at a new 12 month + low, USD/CAD is at a new peak.
This is another wave of NFP reactions.
The US reported a gain of 321K jobs. In addition, wages are finally on the rise. The report stunned markets as it has been the best since January 2012 and way above consensus at 231K.
Update: this fresh wave halts as US factory orders disappoint with a fall of 0.7%.
So, here is what we have:
- EUR/USD bottomed out at 1.2270. This is the lowest since 2012.
- GBP/USD fell below 1.56 and hit a low of 1.5569.
- USD/JPY is above 121.50 and hit 121.67. It’s basically new day, new record. These are the highest levels since 2007.
- AUD/USD fell to 0.8319. This is the lowest since 2010.
- USD/CAD hit 1.1475 – a new high since 2009.
- NZD/USD is lower, but holding above 0.77.
As aforementioned, the dollar’s momentum stopped after the lousy factory orders.
In our latest podcast, we preview December’s big events, talk about the importance of jobless claims, the crash in oil prices and GOFO going negative:
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