Home / Forex & Currency Exchange News / Nonfarm Payrolls Miss Expectations, Reviving EUR/USD

Nonfarm Payrolls Miss Expectations, Reviving EUR/USD

EUR/USD was moving gradually down today but jumped sharply after the release of nonfarm payrolls. Market participants were expecting a robust growth of US employment, but the reality turned out to be rather different. The actual figure was not disastrous, but it was far below expectations. The trade balance report was not good either, adding to the reasons for the dollar to go down versus the euro.

Nonfarm payrolls rose by just 138k in May, far less than the analysts’ optimistic forecast of 181k. What is more, the April’s figure was revised from 211k to 174k. Unemployment rate fell down from 4.4% to 4.3% while experts had not predicted any change. Average weekly earnings rose by 0.2%, exactly as was predicted and the same as the previous month’s revised rate of growth (which was at 0.3% before the revision). (Event A on the chart.)

Trade balance deficit was at $47.6 billion in April, up from $45.3 billion in March, revised ($43.7 billion before the revision). Specialists were expecting just a marginal increase to $45.5 billion. (Event A on the chart.)

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

Posted on Forex blog. Click Here For Original Source Of The Article

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.

Check Also

Steering Precious Metals Investors Clear of Land Mines…

Steering Precious Metals Investors Clear of Land Mines…

By Money Metals News Service November 20, 2017 — Precious metals got a boost last week as investors were reminded that stock prices move in two directions — up and down. The S&P 500 and the Dow both finished the worst two weeks they have seen since August. The selling certainly wasn’t dramatic (both indexes remain within about […]

Leave a Reply

Your email address will not be published. Required fields are marked *

css.php