- The dollar plummets after May employment data.
- EUR / USD rises strongly and cuts losses on Thursday.
The EUR / USD rose sharply from the 1.2105 / 20 range, which had contained the hourly rate to 1.2175, after knowing the official report of employment of May of the United States. The euro hit highs for the day and cut weekly losses.
The pair is trading at 1.2165, away from the two-week high it had dropped hours later, just above 1.2100, in an extension of the decline from levels close to 1.2250.
The employment report showed job creation of 559,000, below the market consensus of 650,000. The disappointment was more pronounced as the expectation for a positive surprise came on the rise following the numbers in Thursday’s ADP report and employment indicators in other economic reports.
The dollar had a sharp decline on all fronts, metals rose and the stock market also rose. Both the greenback and metals partially reversed yesterday’s trends.
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
