Better data supports the dollar
The US dollar has continued the drift higher after the better initial jobs and PPI data this morning.
The GBPUSD which pushed the 1.3400 extreme before the data, started to move back lower after. The pair has moved below the 50% of the move up from the pre-BOE low to the post BOE high. That level comes in at 1.3337.
The EURUSD is trading near the pre-BOE high at 1.1128 level. It just moved back below. So it is looking less bullish now. The buyers had a shot to get above the topside extreme at 1.1153-59. It could not. Back to the 100 bar MA on the 4-hour chart and closer to the 200 hour and 200 day MA at 1.1083-91.
The USDJPY is up but only by about 10 pips. The pair surged higher in earlier trading (range is about 197 pips). So ti is more consolidating.
The NZDUSD is making new lows and moves away from the 200 hour mA at 0.72240.
The AUDUSD was higher after the employment report on the day, but moving back lower too. It is below the 0.7637 area (See chart below).
Stocks are up strong in pre-market trading with the Nasdaq futures up 31 points. The S&P is up 16 points.