USD Falls After Non-Farm Payrolls, Rebounds

The US non-farm payrolls grew almost two times of the forecast value, supporting the optimistic outlook for the US employment caused by the ADP report earlier this week. The US dollar fell after the payrolls were released, but currently regained its strength.

The US employers added 103,000 jobs in September, compared to the median forecast of 55,000. The August reading was revised from “no change” to the growth by 57,000. The unemployment rate remained at 9.1 percent. The average hourly earnings increased 0.2 percent.

The favorable payroll added to risk appetite of traders, pushing the greenback to the downside. The currency rebounded since and rose above opening level among some currencies, but is struggling to keep gains.

EUR/USD traded at 1.3414 as of 16:42 GMT today, falling from the opening rate of 1.3437 and the daily maximum of 1.3523. USD/JPY rose from 76.70 to 76.73. USD/CHF went to 0.9228, slightly above the opening price of 0.9203, following the slump to the low of 0.9145.

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