The main currency pair started strengthening again after the USA published the July statistics on the employment.
Late on the Friday afternoon, the EUR/USD started a new growth. The current quote for the instrument is 1.1430.
The Non-Farm Payrolls expanded 222K after adding 138K the month before and against the expected reading of 175K. The Unemployment Rate went from 4.3% in May to 4.4% in June. The Average Hourly Earnings increased by 0.2% m/m, the same as expected.
Most likely, the market will focus on the Unemployment rate. The June report from the ADP published earlier, which shows Non-Farm Employment Change, increased by 158K and it is worse than in May. The NFP report was more positive, but couldn’t ease pressure on the USD.
The Unemployment Rate reading is the one that is taken into account by the USA Fed. The growth of the indicator can’t be blamed on the seasonal factor, because during the summer the labor force is needed everywhere.
RoboForex Analytical Department