USD moves higher after the US jobs report. What levels are in play now?

Payrolls rose 165K vs. 65K expected. In the video, I look at the bias, risk and targets for EURUSD, USDJPY, GBPUSD, USDCHF, USDCAD and AUDUSD.

The US dollar moved higher after the October jobs report came in stronger than expected.

Nonfarm payrolls rose 165K versus the 65K estimate, September was revised up to 60K from 29K, and the net revision over the prior two months was +84K.

The unemployment rate edged down to 4.1% from 4.2%, even as labor force participation ticked higher.

Average hourly earnings rose 0.4% on the month and 3.1% from a year ago, both above expectations.

There was some softness beneath the headline, with the U6 underemployment rate rising to 7.9% from 7.6% as more people worked part time for economic reasons.

Still, the combination of stronger payrolls and firmer wages put a potential December Fed hike more in play.

The US 2-year yield rose 4.5 basis points on the day to 4.52%, while USDJPY was up 72 pips at 158.38 in the initial report.

What I want to see next is whether the price can stay beyond the levels it broke.

If the price moves back through the breakout level, that’s the first clue the post-jobs move is losing momentum.

From investingLive