FX Market Drivers: Changes in expectations of USD

Non-farm payroll came out at 148,000 against the expected level at 180,000. This was a major disappointment for the market. Jyske Bank’s economists covering the US conclude: A somewhat disappointing job report and particularly job growth in the private sector has fallen quite considerably over the past three months. It is of some concern as it may reflect the businesses’ disappointment about weak sales growth.