The U.S. Dollar Falls Following Non-Farm Payrolls Data

Just after the European Central Bank announced that it will be cutting down the interest rate from 0.25% to 0.15%, the EUR/USD dropped. The pair had recently retraced its losses and went high due to the release of the jobless claims data from the United States.

The Non-Farm Payrolls data came out as unexpected and this data was important for the US monetary policy and this did not give a positive movement for the pair. Meanwhile, during the session, the pair has a support level of 1.3500 and resistance at 1.3667.

The USD/JPY was down during yesterday’s session due to the release of the unemployment data that came out negative than what was expected. In today’s session, the pair continued to move on a downward trend after the data release of the Japanese leading index that came out positive than expected.

This strengthened the Yen but it has ceased its downward trend after the release of Nonfarm Payrolls dat. Investors will take serious positions today after the jobs report at which this may not see the EUR/USD making a large movement. The USD/JPY has a support level of 102.24 and its resistance is at 102.78.