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U.S. Dollar Trading (USD) the much anticipated July Nonfarm Payrolls failed to impact the markets as the data came in mixed. Employment change of -51K was better than the -75K expected but the Unemployment rate notched up to 5.7% from 5.6% in June. Also released the July Manufacturing ISM beating expectations at 50 vs. 49.3 forecast. The USD on the whole was slightly better bid even as stocks weakened and Oil gained. In the U.S. share markets, the NASDAQ was down 14 points (-0.65%) and the Dow Jones was down -51 points (-0.45%). Crude Oil closed up $1.02 ending the New York session at $125.10 per barrel. Looking ahead, June Core PCE m/m expected at 0.2% and June Factory Orders seen at 0.7%.

The Euro (EUR) was initially sold after US Jobs data but recovered as Oil moved higher. Also hurting sentiment was the June German Retail Sales down 1.4% vs. expectations of -0.5%. Overall the EUR/USD traded with a low of 1.5514 and a high of 1.5604 before closing the day at 1.5544 in the New York session. Looking ahead, June PPI forecast at 0.8% m/m and 7.9% y/y.

The Japanese Yen (JPY) gained against most currencies as carry trades were unwound with only the USD remaining near opening levels. AUD/JPY and NZD/JPY continued to make new lows. Overall the USDJPY traded with a low of 107.28 and a high of 107.89 before closing the day around 107.69 in the New York session.