The US dollar was relatively flat the last couple of days, waiting for more economic data. Yesterday, the markets did not like the uncertainty and the arrest of Huawei’s Chief Financial Officer Meng, which came with many questions - not just how this would impact trade negotiations, but also who knew what and when. The recovery began with the White House confirming that Trump did not know about the arrest before his dinner with Xi, which adds to the intrigue. At the same time, WSJ ran an article that the Fed believes moderate inflation reduces the urgency for quarterly increases, which probably kept the US dollar flat.
However, this morning, the US dollar is falling 0.25 percent after bad data in the non-farm employment change, which came in at 155k, when it was expected at 198k. At the same time, the average hourly earnings month to month came in at 0.2 percent when the forecast was 0.3 percent.