Key Highlights
- US dollar was seen correcting lower after critical releases during the start of the NY session.
- US Nonfarm Payrolls report was be released by the US Department of Labor, which came in at 223K in June 2015 whereas the market was expecting it to be around 230K.
- US unemployment rate ticked down from 5.5% to 5.3% in June 2015 more than the forecast.
Earlier during the NY session, there was a major release lined up in the US, as the Nonfarm Payrolls and unemployment rate was published by the US Department of Labor. The US NFP, which presents the number of people on the payrolls of all non-agricultural businesses was expected to register an increase of 230K in June 2015, compared to the last reading of 280K. However, the outcome was lower than the forecast, as the US nonfarm payroll employment gained by 230,000 in June. The previous reading was revised down from 280K to 254K.
USDCHF Technical Analysis
The US Dollar continued to march higher today against most major currencies, including the Swiss franc. The USDCHF pair traded as high as 0.9502 where it found sellers. After the release of the US NFP the pair came under pressure and traded lower. There was a spike lower to test the 38.2% Fib retracement level of the last leg from the 0.9337 low to 0.9502 high.
The US Dollar continued to march higher today against most major currencies, including the Swiss franc. The USDCHF pair traded as high as 0.9502 where it found sellers. After the release of the US NFP the pair came under pressure and traded lower. There was a spike lower to test the 38.2% Fib retracement level of the last leg from the 0.9337 low to 0.9502 high.
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