Forex Introducing broker: Surprising May jobs reports

A Forex Introducing broker is usually checking on information about the market, economic and political factors that can affect the currencies price. In the case of the U.S dollar, according to Reuters, on 7th of June 7, 2013 the currency recovered from its sharp losses of the previous session after a government report showed a reasonably healthy pace of U.S. job creation in May.

Weak labor market data the week before,  had most investors expecting a downbeat figure going into the non-farm payrolls report, but U.S. employers increased their hiring a bit more than expected last month, showing resilience in the sector, according to the report. 
 News that would hearten an introducing broker was from two jobs reports (from the Labor Department and the separate household survey) which showed higher employment in May.
Investors, like a Forex Introducing broker, are increasingly coming to terms with the idea that the Fed this year would begin to reduce its quantitative easing program, perhaps as soon as September. 
Traders of short-term U.S. interest rate futures still expect the Fed to hold rates near zero until early 2015.
    The Fed's bond-buying program is widely seen as a negative for the dollar as it is considered tantamount to printing money. Any introducing broker will have this in mind 
    "We do not see the number as providing clarity on the state of improvement in labor markets and the potential for a reduction in the pace of asset purchases by the Fed," said Michael Gapen, senior U.S. economist at Barclays Capital in New York.
      A Forex introducing broker will keep an eye on what some of the top analysts like Michael Gapen and James Chen, chief technical strategist at City Index Group, has to say about the economy and the dollar. "Because Friday's intraday recovery has been substantial, dollar/yen could be moving in the direction of a broader recovery back up towards 100 and then 103," said James Chen.
   Analysts like James Chen are important to an introducing broker because the possibilities for currency movement are clearly stated. For instance, James Chen also said "This view would be strengthened on a strong push above 98 yen," he said. "To the downside, the key level to watch has been established at 95 support, a breakdown below which could signal a significantly larger correction targeting potential downside around 92 and then 90."
    For the week, the dollar was on track to post its worst weekly loss since mid-July 2009.
    The greenback also posted gains against the Swiss franc and sterling as well as the Australian and New Zealand dollars.
    But the U.S. dollar fell against the Canadian currency, after Canada´s May jobs report showed 95,000 jobs were added in May, its largest monthly addition of new jobs in 11 years. 
    By midday, the U.S. dollar was down 0.4 percent at C$1.0220