On Friday, the Labor Department showed that the U.S. economy added 173,000 jobs in Aug (the smallest increase in employment since Apr), missing analysts’ expectations for a 220,000 gain. However, the unemployment rate slipped to 5.1% (which was the lowest level since April 2008) and average hourly wages increased by 2.2%. These mixed numbers added to uncertainty over whether the Fed will raise interest rates later this month and pushed USD/CHF little lower. Where will the exchange rate head next in the coming days?

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Although the U.S. Department of Labor reported that the number of initial jobless claims in the week ending August 29 increased by 12,000 (missing analysts’ expectations for a 5,000 rise), the Institute of Supply Management’s report (which showed that its non-manufacturing PMI dropped 59.0 in Aug, compared to forecasts for a reading of 58.1) improved investors’ sentiment and pushed the USD Index above the level of 96. Will today’s highly-anticipated jobs report give the greenback an additional support? Before we know the answer to this question, let’s take a closer look at the current picture of our six currency pairs.

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Yesterday, the euro moved sharply lower against the greenback as investors moved to the sidelines ahead of today’s meeting of European monetary policy officials. As a result, EUR/USD slipped to the key support lines. Where the exchange rate head next?

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Earlier today, the Australian Bureau of Statistics showed that the country's gross domestic product increased by 0.2% in the second quarter, missing expectations for a 0.4% growth. Additionally, on a yearly basis, Australia's GDP rose by 2.0% also disappointing expectations for a 2.2% gain. Thanks to these numbers, AUD/USD hit a fresh multi-year low and slipped to the medium-term support line. Will it stop further deterioration?

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Earlier today, official data showed that Chinese manufacturing PMI dropped to 49.7 in the previous month, which was the lowest reading since August 2012. As a result, investors’ appetite for riskier assets waned, pushing the USD Index lower. In this environment, USD/CAD slipped to the lower border of the consolidation, but will we see a breakdown in the coming days?

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