North American Summary and Highlights 11 Feb
Overview - The USD struggled to sustain a bounce on a stronger than expected US employment report.
European and North American sessions
Ahead of the US non-farm payroll, the USD had been moving higher, USD/JPY rising to 153.60 from around 153, EUR/USD back at 1.19 after peaking at 1.1927 and USD/CAD at 1.3565 after finding support near 1.35, with a report that Trump was considering scrapping the USMCA trade deal.
The US employment data was stronger across the board, with the non-farm payroll up by 130k, unemployment falling to 4.3% from 4.4% and average hourly earnings up by 0.4%. USD/JPY spiked to 154.65 but reversed quickly, falling as low as 152.56 before edging back above 153. EUR/USD dropped to a low of 1.1822 but corrected more gradually, to around 1.1875 with EUR/JPY falling below 182. EUR/GBP erased losses below .87 while EUR/CHF was firmer near .9155 from .9125. USD/CAD saw highs above 1.36 before moving back to near pre-data levels. AUD/USD was marginally firmer, a dip below 0.71 on the data not sustained.