Hello steemit FOREX traders,It was US NonFarm payroll day,a high impact economic event that measures both the level of employment change and also the unemployment rate for the previous month of July in the US.
It was a roller coaster for the dollar as there was a marginal increase of 209 thousand,far higher than a forecast of 182 thousand.Although still below the previous reading of 231k. Unemployment rate dropped to 4.3% from a previous 4.4%.Dollar bulls were on rampage as dollar gained among its pairs.
Usdjpy pair has been on a bearish streak since the 3-Jan-2017 after hitting a high of 118.59 to 27-march low of 110.09, a massive 850pips.Todays relief rally of 100 pips was handy to dollar bulls.Usdjpy leaped from a daily low of 109.99 to a high of 111.04 a 100 pips move as at the time of filing out this report.
Gold which has been on a bullish momemtum was severly attacked by the bears.The precious metal has been on an upward rise since 10-july from a low of 1204.65 per ounce to a high of 1270.54/ounce on 3-aug.A massive 600 pips plus rise.NFP aftermath saw it dropping to a low of 1254.09
Silver ,a twin moving partner to gold is also on bullish streek for a while now,with a daily high of 16.79,now currently smacked at a low of 16.17.
The poundsterling continued its lackluster performance from yesterdays BOE interest rate decision dropping further to a low of 1.3024 a 130pips drop from todays high of 1.3164
In all it was sweet trading experience with a couple of profit for the weekend,am very sure you had your own slice of the largess. Feel free to drop your market analysis of any of the trading instruments you are familiar with.
Bank Of England -BOE Thursdays interest rate analysis on Gbp pairs link is here -
https://steemit.com/forex/@detycoon/forex-trading-british-pounds-pairs-smashed
