The US dollar is down slightly even as November’s US non-farm payrolls (jobs report) showed employers adding 178,000 new jobs, just above expectations of 175,000. Investors have been bullish on the US economy in recent weeks, so some analysts believe that only a significantly positive surprise from today’s jobs report would have lifted the dollar above its 14-year-high levels.
Across the Atlantic, the pound is trading higher thanks to stronger-than-expected growth in construction sector activity during November.
The euro began sliding against the dollar after the solid US non-farm payroll results were released, but was trading higher earlier in the morning with October’s better-than-expected producer inflation growth.
Elsewhere, the Canadian dollar is rising as the latest labor market data showed surprising job growth and a drop in the unemployment rate to 6.8% in October. The Australian dollar is also climbing after last night’s stronger-than-expected retail sales results for October. The Japanese yen is strengthening against a weaker US dollar this morning, though the currency still sits at its lowest levels against the greenback since February.
EURUSD: The euro is trading lower after this morning’s US jobs report.
GBPUSD: The pound is up thanks to a strong construction sector report.
AUDUSD: The Aussie dollar is rising after last night’s better-than-expected retail sales results.
USDCAD: The Canadian dollar is up on stronger-than-expected labor market results for October.