Session Recap: USD down after NFP, still ends week higher

By FXstreet.com | August 01, 2014 AAA

FXStreet (Córdoba) - The US dollar fell on Friday across the board, weakened after the release of the NFP, that came below expectations. The decline was limited and Greenback finished the week as the best performer among majors.

The currency market remained steady during the American session. The US dollar tumbled after the release of the employment numbers, then pulled back slightly, trimming losses and stabilized. The best performer on Friday was the Japanese Yen that beneficiated from risk aversion and falling US bond yields.

The EUR/USD finished the week around 1.3420/30, having on Friday the best day in weeks, but still below where it was a week ago and still faces pressure. Among european currencies the Swiss Franc was the best on Friday, pushing the USD/CHF from 0.9090 to 0.9060.

Cable plummeted, weakened by UK economic data and during the US session remained near the lows of the day. The GBP/USD finished the week near the lows, trading around 1.6825, 160 pips below Monday's opening price. Against the Euro, Cable had the worst day in month.

Commodity currencies finished mostly flat against the US dollar after recovering ground on the NFP numbers. The AUD/USD closed barely above 0.9300 while the NZD/USD on top of 0.8500 but both lower for the week.

The US dollar closed the week making a bearish correction after rising in the previous days. So far the decline has been limited and still looks with momentum ahead of a week without key data from the US but with the ECB meeting.

Main headlines in the American session

">GBP/USD finishing up on the week’s lows’

Wall Street extends decline as investors are worried on debt crisis

">USD/JPY finds support at 102.30

">NZD/USD rises back above 0.8500 after NFP

">US: ISM Manufacturing PMI climbs to 57.1 in July

">US: Nonfarm payrolls up 209K in July

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