EUR/USD continued to rise today even though
Nonfarm payrolls rose by 638k in October, exceeding the median forecast of a 595k increase. On top of that, the previous month’s gain got a positive revision from 661k to 672k. Unemployment rate fell from 7.9% to 6.9%, whereas analysts had predicted just a mild fall to 7.7%. Average hourly earnings were the only disappointing indicator in the report, rising by just 0.1% increase, missing the analysts’ projections of a 0.2%. Furthermore, the September reading got a negative revision from 0.1% to 0.0% (no change). (Event A on the chart.)
Wholesale inventories rose by 0.4% in September, the same as in the preceding month. Experts were anticipating a 0.1% drop. (Event B on the chart.)
Consumer credit rose by $16.2 billion in September, exceeding the median forecast of a $7.9 billion increase. August’s decline got a revision from $7.2 billion to $6.9 billion. (Event C on the chart.)
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