US dollar holds payrolls gains as NZ dollar rises after election

The US dollar held onto the gains it made after the latest US payrolls report, according to Investing.com. The report was described as a shock for markets, and the dollar's move has so far not faded.

In the same report, Investing.com said the New Zealand dollar rose after an election in the country. The sources give no further detail on the result or the size of the move.

A second Investing.com article said eurozone bond yields were consolidating after the US payrolls shock. In plain terms, yields were moving in a narrower range as the market digested the jobs data.

Why it matters for traders

Jobs figures are among the economic data releases that move markets most, because they shape expectations for central banks and interest rates. A dollar that keeps its gains suggests the market has not yet reversed its reaction. Steadier eurozone yields show the shock spread beyond currencies into bond markets. Traders who follow the broader dollar trend may also look at the US Dollar Index.

What to watch next

• US CPI m/m on 10 November at 13:30 UTC, with a forecast of 0.3% against a previous 0.6%.
• US Core CPI m/m at the same time, forecast at 0.2% against a previous 0.3%.
• Whether the dollar's post-payrolls gains hold once the inflation numbers are out.
• Further moves in the NZ dollar as markets assess the election outcome.