Good US Employment data boosts USD

Source: Dukascopy Bank SA


At 12:30 GMT, the US Dollar surged against all other assets and currencies. The surge was caused by the better than forecast US monthly employment data.

In July, US Average Hourly Earnings month on month increased by 0.5% instead of 0.3%. Non-farm Employment Change showed a growth of 528,000, compared to forecast 250,000. Meanwhile, the US Unemployment Rate is at 3.5%, not the expected 3.6%.

The EUR/USD reacted to the news with an immediate drop of 61 base point or 0.60%.
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