I can never get enough of these sorts of articles:
"A worse number is going to be bad for risk appetite," said Shaun Osborne, chief currency strategist at TD Securities Inc. in Toronto. "The initial reaction has been to buy the U.S. dollar" against other currencies such as the Canadian dollar and the euro.
Very plausible, you might think. But here's the forex story from last month's US employment release:
- Positive US jobs numbers raise the USD against other currencies.
- Negative US jobs numbers raise the USD against other currencies.