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EUR/USD Reverses Decline Despite Amazing Nonfarm Payrolls

January 9, 2015 (Last updated on January 15, 2015) by

EUR/USD edged up today, erasing yesterday’s losses. It was a big surprise as US nonfarm payrolls were amazingly good and should have driven the currency pair further down. Market analysts explain such behavior by the unexpected drop of average hourly earnings that spoiled otherwise stellar employment data.

Nonfarm payrolls grew by 252k in December, exceeding optimistic analysts’ projections of 241k. Moreover, the November value was revised from the already huge figure of 321k to mind-blowing 353k. Unemployment rate fell from 5.8% to 5.6%, below the predicted level of 5.7%. (Event A on the chart.)

Wholesale inventories expanded 0.8% in November. The increase was bigger than the median forecast of 0.4% and the previous month’s revised growth of 0.6%. (Event B on the chart.)

EUR/USD for 2015-01-09

If you have any comments on the recent EUR/USD action, please reply using the form below.

One Response to “EUR/USD Reverses Decline Despite Amazing Nonfarm Payrolls”

  1. Rick LAU

    I believed because of majority of the players went short in eurusd no matter spot or future, that’s why it squeezed back especially above intraday high 1.1821 before non farm number. Market became unfair as traders using platforms to trade, the big banks can easily get know of where and where majority of the market caught short or long, moreover as human traders always placed stop loss orders over platforms, therefor easily being calculated or aimed to squeezed out finally. Me and my friends were interbank traders before and now going nowhere, because of these kind of cheating mechanism existed among platform. But we can not find a way out expect one day we went back to the old days while everyone using EBS as an exchange to trade FX, otherwise just keep losing money. Please seriously think again, if most of the people keep losing because of technique cheats by platforms, it’s a negative feed back and finally collapse of this industry, try to study the sales reports or turnover of your clients, all keep dropping. As a result me and you both lose our job

    Reply

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