Earlier today, the Department of Labor reported that the U.S. economy added 214,000 jobs in Oct. Although it was the 49th straight month of positive job growth, today’s numbers missed expectations for an increase of 231,000. In a response, the USD Index, which tracks the performance of the greenback against a basket of six major currencies gave up some gains, slipping below 88. Did this drop affect the short-term outlook of major currency pairs?

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Earlier today, the Labor Department showed that the initial claims for unemployment benefits decreased by 10,000 in the week ended Nov. 1, beating analysts’ forecast. This second lowest level for claims this year supported the greenback and pushed GBP/USD below the barrier of 1.6000. Will we see a fresh multi-month low?

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Earlier today, the Canadian dollar declined to its lowest level since Aug 2009 against the greenback as lower crude oil prices continued to pressure the Canadian currency. In this way, USD/CAD climbed above 1.1450 and reached a solid resistance zone. Will it stop further rally in the coming days?

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Earlier today, official data showed that retail sales in Australia increased by 1.2% in September, beating expectations for a 0.4% rise. As a result, AUD/USD bounced off a one-month low and came back above the short-term support. Will we see a post-double bottom rally?

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Although the British pound moved higher after data showed that the U.K. manufacturing PMI rose to 53.2 in October (beating analysts’ expectations for a drop to 51.2), the GBP/USD pair reversed and slipped below the long-term support/resistance line as U.S. dollar strengthened supported by upbeat manufacturing data. Where will the exchange rate head next?

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