Employment in the USA!
As expected, the number of jobs in the US in November increased significantly, for more details on employment data, see Market News. But, despite the growth of employment, the previous values were revised downwards, with considerable significance. The second negative factor of the report was a slowdown in the growth of salaries and revised values to the negative side in October.
As a result, the employment report was very mixed, despite job growth. In conditions of poor quality of jobs, purchasing ability remains low, which has a negative impact on inflation expectations.
Thus, the US dollar index was under the pressure of the ambiguity of the employment report in the US, which in the end causes a correction of the American. Given the safety of the uptrend in the US dollar, one should expect a moderate correction to the support levels: 93.600 and 93.400. Resistance is located at the level of 93.900-94.000.
Graph of the US dollar index. The current price is 93.800.
Hanzenko Anton