EUR/USD: US Employment Data Set

The European Common Currency traded sideways against the US Dollar, following the US Employment data set release on Friday at 12:30 GMT. The EUR/USD exchange currency rate lost 7 pips or 0.07% right after the release. The Euro continued trading at the 1.1100 level against the US Dollar.

The Bureau of Labor Statistics released the US Average Hourly Earnings data, which came out better-than-expected of 0.3% compared with the forecast of 0.2%.

According to the official release: "Total nonfarm payroll employment rose by 164,000 in July, and the unemployment rate was unchanged at 3.7 percent. Notable job gains occurred in professional and technical services, health care, social assistance, and financial activities. In July, average hourly earnings for all employees on private nonfarm payrolls rose by 8 cents to $27.98, following an 8-cent gain in June. Over the past 12 months, average hourly earnings have increased by 3.2 percent. In July, average hourly earnings of private-sector production and nonsupervisory employees rose by 4 cents to $23.46."