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Nonfarm Payrolls Cause Volatility, Push EUR/USD Down

EUR/USD declined today even though the fundamental indicators that came out from the United States were rather mixed. Traders preferred to buy the dollar despite the fact that the news brought nothing positive about the US economy.

Trade balance deficit widened from October’s reading of $42.6 billion to $45.2 billion in November. The result was not far from the median forecast of $45.5 billion. (Event A on the chart.)

Nonfarm payrolls gained 156k in December after increasing by 204k in November. The anticipated growth had been at 175k. Unemployment rate went up from 4.6% to 4.7% as expected. Average hourly earnings rose by 0.4% vs. 0.1% drop a month earlier. Market participants had expected a gain by 0.3%. (Event A on the chart.)

US factory orders declined by 2.4% in November — almost as expected (2.3% drop). October’s report showed a growth by 2.7% for factory orders. (Event B on the chart.)

The fall of the durable goods orders in November was revised from 4.6% to 4.5%. (Event B on the chart.)

EUR/USD as of 2017-01-06

If you have any comments on the recent EUR/USD action, please reply using the form below.

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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