Disappointing Payrolls Data Forces USD Downwards

On Friday, the Pound moved higher against many of its peers, despite ongoing concerns about the energy crisis gripping the UK.

A positive market mood gave the currency a boose as well as a strong recovery in the UK stock market. This saw the Pound finish at 1.1761 against the Euro and 1.3613 against the US Dollar according to the Foreign Exchange Market.

As the Euro moved through the session on Friday, it weakened as it reacted to news that the balance of trade figures in Germany came in lower than expected. Trade surplus in Germany shrunk to its smallest since May 2020 coming in at €10.7bn as opposed to €14.4bn that was expected. There is no data due to be released today which means that the single currency might face further headwinds. 

There was a significant amount of selling pressure placed on the US Dollar on Friday after the US non-farm payrolls report came in under expectations. September was the worst month this year for payroll figures, as only 194,000 jobs were added, which was a lot less than the 500,000 that was forecast.


NewbridgeFX offers a specialist service in the deliverable foreign exchange market, promoting a range of products and services, available online or over the phone. Our products have been designed to meet the needs of our clients. A lot of these products are ways for businesses, and individuals, to manage and mitigate currency risk, and are used frequently during times of increased volatility. Alongside up to date foreign exchange related market news, which works in tandem with our range of products. 

Spot Contract

Lock in an exchange rate for immediate onward settlement. Funds can be received the same day.

Forward Contract

Lock in an exchange rate today, but for settlement at a later date that suits you, up to 12 months in the future.

Market Order

We monitor the markets real time and take action to trade between currencies when your desired rate is achieved.

Rate Alerts

Set an alert for phone or email notification when an exchange rate has be achieved to take advantage at the best time.