10 Jun 2013
Flash: USD climbs against majors - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that the dollar climbed against the majors on Friday after the headline US nonfarm payrolls (NFP) numbers came in a shade better than expectations at 175k (although the unemployment rate rose to 7.6%).
On other fronts he adds that positive comments from the Fed’s Plosser also lent the USD further intrinsic support although both factors failed to cement strong expectations of a Fed tapering after recent data disappointments before the latest nonfarm reading. Additionally, the CAD outshone the done and its G10 counterparts with the USD/CAD dipping briefly below 1.0200 following significantly better than expected May labor market numbers. Elsewhere, he writes, “Positive global equities saw the JPY crosses climbing while on the flip side, the antipodeans continued to underperform across the board.”
On other fronts he adds that positive comments from the Fed’s Plosser also lent the USD further intrinsic support although both factors failed to cement strong expectations of a Fed tapering after recent data disappointments before the latest nonfarm reading. Additionally, the CAD outshone the done and its G10 counterparts with the USD/CAD dipping briefly below 1.0200 following significantly better than expected May labor market numbers. Elsewhere, he writes, “Positive global equities saw the JPY crosses climbing while on the flip side, the antipodeans continued to underperform across the board.”