EUR/USD jumps on US Employment

Source: Dukascopy Bank SA


On Friday, at 12:30 GMT, the US Bureau of Labour Statistics published the US monthly employment data sets. The news that during the last month 235,000 people were employed instead of forecast 720,000 caused a sharp drop of the US Dollar.

The EUR/USD currency exchange rate reacted to the event by sharply surging 37 base points or 0.31%.

In regards to the data, note that the release consisted of three data sets. Average Hourly Earnings came in at 0.6% instead of expected 0.3%. Non-Farm Employment Change was at the mentioned 235,000 instead of forecast 720,000. Meanwhile, official Unemployment Rate hit the forecast at 5.2%.
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