Boris and Kathy Forex Weekly – 9-10-2017 – Crosses
October 8, 2017 9:54 pm
The U.S. economy lost 40k jobs in the month of September but instead of falling, the greenback enjoyed strong broad based gains this past week. USD/JPY broke above 113 and hit its highest level in nearly 3 months. It gave up those gains on reports that North Korea could conduct a missile test this weekend but the fundamentals supporting the greenback have not changed. Friday’s NFP release capped off a very good week for the dollar, which rose more than 2.5% versus sterling and over 1% against the Swiss Franc, Australian and New Zealand dollars. The euro, Canadian dollar and Japanese Yen were the most resilient but they still experienced losses. Looking ahead, the U.S. dollar should recapture its gains in the new trading week ahead of the U.S. retail sales report.
The U.S. economy lost 40k jobs in the month of September but instead of falling, the greenback enjoyed strong broad based gains this past week. USD/JPY broke above 113 and hit its highest level in nearly 3 months. It gave up those gains on reports that North Korea could conduct a missile test this weekend but the fundamentals supporting the greenback have not changed. Friday’s NFP release capped off a very good week for the dollar, which rose more than 2.5% versus sterling and over 1% against the Swiss Franc, Australian and New Zealand dollars. The euro, Canadian dollar and Japanese Yen were the most resilient but they still experienced losses. Looking ahead, the U.S. dollar should recapture its gains in the new trading week ahead of the U.S. retail sales report.
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