Solid US unemployment report rattled the market. Euro has broken below 1.09, Pound below 1.52, Yen above resistance of 120.5 and Gold below the support level of 1190. Further moves can't be ruled out.
- Total nonfarm payroll employment increased by 295,000 in February.
- unemployment rate edged down to 5.5 percent from previous 5.7%
- Private payroll is up at 288,000 from previous 237,000
- The civilian labor force participation rate, at 62.8 percent
- Average hourly earnings rose at 0.1% mom and 2% YoY.
- January payroll was revised to 239,000
- Long term unemployed remained around 31% of the labor force.
- Employment gains in professional business sector and in services industry were commendable whereas petroleum and mining sectors saw job losses.
Impact -
Dollar's position is further solidified which would continue its gain against majors as well as weaker emerging market currencies.
Treasuries and USD libors would further strengthen.
Monday after Asian session, there can be some give up of gains by USD driven by profit bookings
Dollar index is trading at 97.3, up nearly 1% for the day.


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