Home Forex News The Dollar Steadied in Holiday-Thinned Trade on Monday After U.S. Jobs Data

The Dollar Steadied in Holiday-Thinned Trade on Monday After U.S. Jobs Data


US Non-Farm Payroll Employment Surges In August:

The dollar steadied in holiday-thinned trade on Monday after U.S. jobs data showed job growth slowed further in August, while traders shifted their focus to the European Central Bank’s meeting on Thursday.

The Labor Department on Friday showed employment in the US jumped by slightly less than expected in the month of August. The Labour Department said non-farm payroll employment surged up by 1.371 million jobs in August. The report also showed the spike in employment in July was downwardly revised to 1.734 million jobs from the previously reported 1.763 million jobs. Meanwhile, the Labor Department said the unemployment rate dropped to 8.4 percent in August from 10.2 percent in July.

Dollar notably against pound after latest Brexit development over the weekend escalates risk of no-deal. The FTreports that the UK is planning new legislation that will override key parts of the Brexit withdrawal agreement, risking the collapse of trade negotiations with Brussels. Sections of the internal market bill due to be published this Wednesday.


Time                                      :           07/09/2020

Pivot                                      :           1.1837

Technical View                     :             LONG ABOVE 1.1857

Target                                   :            1.1868, 1.1877, 1.1899

Technical View                     :             SHORT BELOW 1.1817

Target                                   :            1.1808, 1.1797, 1.1767


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