Market digest the numbers
The US jobs report on the initial numbers was weaker with the NFP weaker along with a downward revision to the prior month. However, the unemployment rate fell to 4.9% and the average hourly earnings came in stronger +0.5% (estimate 0.3% month on month).
With earnings higher and unemployment rate lower, it keeps the Fed in the ball game. S&P futures are down 6 points.
The EURUSD took the initial clue from the nonfarm payroll jobs and moved higher. The pair is now trading at new session lows.
The USDJPY so a similar reaction, with new lows (116.25), but has reversed and just traded new session highs at 117.31.
For the EURUSD the 1.1155 is the midpoint of the move up from the low yesterday. We are now trading below that level. Technically, the selllers are taking control. but activity remains choppy.
The range for the day is 102 pips now. The 22-day average is 109 pips.
