February 1, 2023

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Dollar falls after the weaker US jobs report. . NASDAQ index rises. Dow falls. Yields fall

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Spike lower in the dollar

The US dollar has fallen after the weaker to US jobs report. The exception is the USDCAD as Canada also reported weaker data (although influenced by lockdown). The US dollar was marginally higher going into the report with modest declines of -0.8% versus the EUR and GBP (see US opening report HERE). 
Spike lower in the dollar

The USD has moved down to the second weakest currency behind the CAD now. The EUR is now the strongest.

The US dollars weakening
The Dow has moved lower and trades down around -44 points. The NASDAQ has moved higher with the futures now implying a 210 point surge.  The changes of a Fed hike have been extended further out.  

US yields are lower with the 10 year yield down -6.3 basis points

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