Unemployment rose, Non Farm Payrolls for October came in at -240k against -240k expected. Home sales also dropped by -4.6% against -3.4% expected. The stocks also rose – Dow Jones up over 2.5% NASDAQ up more than 2.1% after losses previously to that.
The Euro gained some strength against the Dollar on the back of US data. The German Industrial Production came in at -3.6% for September – this was worse than expected. The EUR/USD traded low of 1.2664 and high of 1.2951 and 1.2745 at end of New York session.
The Sterling remained unpredictable with the cut of 1.5% interest rate. With the rate cut larger than expected, this is seen as a positive move. The sterling gained some strength against the US Dollar – a low of 1.5337 and a high of 1.5650 at the end of New York session.