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EUR/USD Falls Deeper to Nonfarm Payrolls Decline

April 3, 2009 by

Euro was trading in the red zone against the dollar for the major part of the today’s trading session but immediately after the report on the U.S. employment sector was released, the EUR/USD currency pair hastened down considerably. Currently it’s trading near 1.3400.

Nonfarm payrolls fell by 663k in March, following February’s drop by 651k. The payrolls were expected to fall by 658k. Unemployment rate rose as expected — from 8.1% to 8.5%.

ISM services index went down from 41.6% to 40.8% in March — a bad signal for the U.S. economy, considering the forecasts that showed a gain to 42%.

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