Non Farm Payroll Report

The US Non Farm Payroll Report showed a slightly higher than expected loss of 84,000 jobs for the month of August. 56,000 additional job losses were added to the June and July reports. The unemployment rate increased from 5.7 in July to 6.1 percent for August.

The US Dollar knee jerked against the majors not straying from it’s recent path of advancement. The US Dollar remains overbought against the major currencies with the exception of the USD/JPY which is currently very oversold.