Terrible jobs report: 38K jobs gained with additional bad news: -59K in revisions, participation rate falls to 62.6% and the weekly hours are down to 34.4K. Lowest since September 2010. Wages are OK with 0.2% m/m, 2.5% y/y but this doesn’t help. USD crashing across the board with chances for a rate hike in June basically erased and chances for a hike in July going for 60% to 42% – a rate hike only after the elections? The US was expected to report a gain of 160K and average hourly earnings to rise by 0.2%. The Verizon strike was said to skew data to the downside, but the magnitude of the impact was unclear. More: EUR/USD shoots higher on NFP – levels to watch USD/CAD creates double bottom on NFP – levels Shockingly Low Payrolls Supports Our Call For No Fed Hikes In 2016 & 2017 – BNPP Trading the NFP with EUR/USD. The US dollar and market in general were very calm ahead of the publication. NFP Live Blog May NFP Data (updated) Non-Farm Payrolls: 38K (exp. +164K, last 160K before revisions) Average Hourly Earnings:0.2%, 2.5% (exp. +0.2% m/m, last month +0.3% m/m, 2.5% y/y) Revisions: -59K (-19K last time) Participation Rate: 62.6% (62.8% last month ) Unemployment Rate: 4.7% (exp.4.9%, last month 5% before revisions) Private Sector: TBA (ADP showed only +173K). Real Unemployment Rate (U-6): 9.7% (previous: 9.7%). Employment to population ratio: 59.7% (previous: 59.7%) Average workweek: 34.4 (exp. 34.5K, last month: 34.4). NFP Currency Reaction EUR/USD traded around 1.1150 after Draghi’s drag – a quiet ECB meeting which was slightly dovish. The pair shoots above resistance at 1.1250 and hits 1.1270. GBP/USD was around 1.4430 with all eyes on the Brexit referendum and recent polls weighing on cable.Cable challenges the 1.45 level, seems cautious ahead of fresh polls. USD/JPY was around 108.87 after the yen enjoyed a “buy the rumor sell the fact”.. The pair loses 108 with support at 107.65. USD/CAD traded around 1.3080. Trade balance was published in Canada at the same time. The pair is dipping under 1.30 AUD/USD was around 0.7250 after the blockbuster GDP report earlier in the week. Aussie is challenging resistance at 0.73. NZD/USD traded above the 0.6840 support after a rise in milk prices. Kiwi tops 0.69 A free fall of the greenback – here is the daily chart of EUR/USD: Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/USD shoots higher on NFP – levels to watch Yohay Elam 6 years Terrible jobs report: 38K jobs gained with additional bad news: -59K in revisions, participation rate falls to 62.6% and the weekly hours are down to 34.4K. Lowest since September 2010. Wages are OK with 0.2% m/m, 2.5% y/y but this doesn't help. USD crashing across the board with chances for a rate hike in June basically erased and chances for a hike in July going for 60% to 42% - a rate hike only after the elections? The US was expected to report a gain of 160K and average hourly earnings to rise by 0.2%. The Verizon strike was said… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.