Market Overview

ForexLive North American Wrap: Jobs on Target (and at Target)

Non-farm payrolls rise 155K vs 152K exp
Unemployment rate 7.8% vs 7.7% exp
Canada adds 39.8K jobs vs 5K exp
ISM non-manufacturing 56.1 vs 54.1 exp
Nov factory orders 0% vs +0.4% exp
Fed's Stimulus Isn't Tied to the Calendar: Bullard 
Fed's Lacker says disappointing growth may be best ‘we should expect'
Plosser forecast 3% growth in 2013 and 2014
Schaeuble says confidence returning to markets
Congress approves Sandy aid
CFTC: Specs long euro for the first time since Aug 2011
S&P 500 up 0.5% to 146;, up 4.6% on the week
NZD leads, JPY lags

Payrolls were close to expectations but not good enough to keep the US dollar rally going. The euro stalled ahead of 1.30 and rebounded to 1.3075.

Cable was nearly identical -- unable to break 1.6000 and then rebounding to 1.6075.

The big winner in US trading was the Canadian dollar after another blockbuster employment report. USD/CAD fell to 0.9850 from 0.9920.

Have a great weekend.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: News Forex Global Economics Markets Trading Ideas

 

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