EUR/USD Soars on Disastrous Employment Data
EUR/USD showed a growth of more than 100 pips in one hour immediately after the employment data from the United States were released today. While trading flat and even falling a little during the day, EUR/USD broke through its own record level setting a new historical maximum to 1.4824.
Nonfarm payrolls growth was expected to fall from 94k in November to 70k in December, but the released data was a real catastrophe - just 18k growth. Meanwhile the unemployment rate rose from 4.7% to 5.0% showing that the problems in the U.S. economy are going to be really serious.
ISM services index in December showed a less dramatical decline dropping to 53.9% from 54.1% in November, while a drop to 53.5% was expected.
Nonfarm payrolls growth was expected to fall from 94k in November to 70k in December, but the released data was a real catastrophe - just 18k growth. Meanwhile the unemployment rate rose from 4.7% to 5.0% showing that the problems in the U.S. economy are going to be really serious.
ISM services index in December showed a less dramatical decline dropping to 53.9% from 54.1% in November, while a drop to 53.5% was expected.
Labels: eur/usd, ism services, nonfarm payrolls, unemployment rate
posted by enivid at 4:01 PM
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