The Non-Farm Payroll was released on Thursday this week, instead of Friday because 7/4 will be a national holiday for the US. NFP data surged in June, surpassing May’s readings, and blasting forecasts. The unemployment rate dropped to 6.1%, down from the 6.3% reading in May. Forecasts did not call for a change.
The USDX is pushed back to a falling trendline and is at the cusp of bullish continuation. The USD/JPY and EUR/USD both broke key trendlines. The GBP/USD is staying resilient. Gold dipped as well, remaining in consolidation mode, but the prevailing uptrend is still intact. The USD is definitely celebrating early. We will need to see if these broken levels will stick next week.