Forex News: U.S. Dollar Recovers After Jobs Data

U.S. Dollar Recovers After Jobs Data

(RTTNews) - The U.S. dollar rebounded against its major counterparts in the New York session on Friday, after the release of better-than-expected non farm payrolls report for April.

Data from the Labor Department showed non-farm payroll employment shot up by 177,000 jobs in April compared to expectations for an increase of about 130,000 jobs.

The report also said the unemployment rate came in at 4.2% in April, unchanged from the previous month and in line with economist estimates.

Sentiment improved amid easing concerns about U.S.-China trade tensions after China expressing willingness to hold tariff talks with the United States.

The greenback rebounded to 0.8280 against the franc and 1.1292 against the euro, from an early 3-day low of 0.8205 and a 2-day low of 1.1380, respectively. The next possible resistance for the currency is seen around 0.88 against the franc and 1.11 against the euro.

The greenback was trading at 1.3276 against the pound, up from an early low of 1.3330. The currency may test resistance around the 1.28 level.

The greenback rebounded to 145.08 against the yen. This may be compared to an early fresh 3-week high of 145.92. The currency is poised to challenge resistance around the 148.00 level.

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