Forex news for US trading on February 5, 2016:
Markets:
– Gold up $18 to $1173
– WTI crude down 71-cents to $31.01
– S&P 500 down 35 points to 1880
– US 10-year yields flat at 1.84%
The initial reaction on the non-farm payrolls release was to sell the dollar on the soft headline and revisions but it quickly reversed on two factors 1) the unemployment rate unexpectedly fell 2) wages were stronger than anticipated. What started as a gentle dollar rally then gathered momentum. EUR/USD dropped to 1.1110 from 1.1200, where it finally found some bids ahead of the big figure.
