Higher than expected jobs, revisions, higher earnings.

The US employment report was better than expectations and that has sent the dollar higher.

The USDJPY is trading up to the 38.2% of the move down from the January high at 110.227 currently. That is also near the swing low from back on January 17. The price is moving above that level now (risk now). The swing low from Jan 19 comes in at 110.48. The 50% of the move down from the January high comes in at 110.829. They are targets (over time) for the USDJPY.

For the EURUSD, the price fell below the 1.2474 level (low from earlier and high from Wednesday - risk now for shorts). The 38.2% of the move up from the low this week comes in at 1.2450. That is the next target to get to and through. Below that, the 100 hour MA AND 50% of the move up this week BOTH come in at 1.2429. That will be a key target that traders should head toward (do we stall or break through will be key for the bias then).

  • US yields are higher. The 10 year which was near unchanged before the number is now up 4.2 basis points.
  • The stock futures are not liking the higher rates in pre-market trading as the initial reaction. The S&P is down -22 points now. The Nasdaq futures are down -34 points.
  • Gold is down $8.40 on the higher dollar.