Forex Trading : US labor market data released for the month of February since last few as follows:
The change in non-farm payrolls: 295 thousand from 257 thousand in the previous reading was expected to be 240 thousand positive result. Unemployment rate: compared with the previous 5.5%% and was expected to be at 5.6% and a positive result. Hourly wage rate: 0.1% compared with the previous 0.5% and was expected to be at 0.2% and a negative result.
Initial reaction to the US dollar was very positive to all the major currencies, especially the euro as the US dollar index, which measures the performance of the greenback against six major currencies rose to 97.35 areas, the highest since the 11 year and a half.
Negative wage rate is the only negative factor that may make the Fed Mitritha about an interest rate hike is one of the major economic indicators which the Bank has announced that he will rely upon to determine the inflation pressure level.
There are no indicators to change the point of the US dollar positive, but the technical side where the technical indicators show saturation sharp bullish on the US dollar.