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EUR/USD Rebounds Despite Employment Growth Matching Expectations

October 2, 2019 (Last updated on October 3, 2019) by

EUR/USD was falling earlier today but has bounced by now, rising above the opening level. The bounce happened despite decent US employment data that matched expectations.

ADP employment rose by 135k in September, close the to the median forecast of 140k but less than in August — 157k (the reading which itself got a negative revision from 195k). (Event A on the chart.)

US crude oil inventories climbed by 3.1 million barrels last week, exceeding the market consensus of 2.0 million barrels. The increase followed the gain of 2.4 million barrels the week before. Total motor gasoline inventories slipped by 0.2 million barrels. (Event B on the chart.)

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