EUR/USD: US Employment Data Set - Fundamental Analysis - Dukascopy Bank

Fri, 06 Nov 2020 14:20:44 GMT
Source: Dukascopy Bank SA
 

The Euro traded sideways against the US Dollar, following the US Employment data set release on Friday at 13:30 GMT. The EUR/USD exchange currency rate lost 7 pips or 0.06% after the release. The Euro continued trading at the 1.1890 level against the Greenback after the release.

The Bureau of Labor Statistics released the US Unemployment Rate data, which came out better-than-expected of 6.9% compared with the forecast of 7.7%.

According to the official release: "These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In October, notable job gains occurred in leisure and hospitality, professional and business services, retail trade, and construction. Employment in government declined."

Historical Data: US Unemployment Rate
Date02.07.2007.08.2004.09.2002.10.2006.11.20
Actual11.1%10.2%8.4%7.9%6.9%
Forecast12.4%10.5%9.8%8.2%7.7%
Initial Reaction on Main Pairs
PairOpenCloseChange
AUD/USD0.72580.726010.03%
EUR/USD1.188051.1875-0.05%
NZD/USD0.678060.67820.02%
USD/JPY103.324103.3490.02%
Nov 6, 2020 Open Positions
PairLongsShorts
AUD/USD38.7%61.3%
EUR/USD43.7%56.3%
NZD/USD25.3%74.8%
USD/JPY64.2%35.8%

Economic calendar


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