US Employment data beats down USD

Source: Dukascopy Bank SA


On Friday, at 12:30 GMT, the release of US Employment data sets caused a surge of the EUR/USD of 71 base points. In addition, an all-out decline of the US Dollar was taking place.

The drop was attributed to the Non-Farm Employment Change being at 266K instead of the market forecast 990K. In addition, previous month's data was revised downwards by almost 150K.

Meanwhile, the US Unemployment Rate was at 6.1% instead of the expected 5.8%. Average Hourly Earnings change came in better than expected at 0.7% instead of the forecast 0.0% change.
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