US data off-sets and dollar rescued again – Westpac

By FXStreet Analysts at Westpac noted the key U.S. data last week and explained that the US dollar gained only briefly from the solid US payrolls growth in March, with some offset from an uptick in the unemployment rate and a softer than expected manufacturing survey.
Key Quotes:

“US non-farm payrolls rose 215k in March (vs estimates at 205k), continuing the solid momentum in the labour market for another month.

The detail was on balance constructive – average hourly earnings rose 0.3% (0.2% expected), and while the unemployment rate rose to 5.0%, a higher participation rate (+0.1ppt to 63%) drove much of that. The US national manufacturing ISM rose from 49.5 to 51.8 in March, a less sharp gain than expected after the surges in regional surveys.”
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Source:: FX Street