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EUR/USD Rises, Can Good US Jobs Market Stop Rally?

March 2, 2011 by

EUR/USD rallied today almost without pause despite risk aversion sentiment of traders that was caused by renewed concerns about uprising in Libya. The positive news from the US labor market may stop the rally, though. EUR/USD trades now at about 1.3882.

ADP employment increased by 217k from January to February on a seasonally adjusted basis. The estimated change of employment from December to January was revised up to 189k from the previously reported increase of 187k. Forecasts were a way more pessimistic, promising an increase by just 178k. (Event A on the chart.)

Crude oil inventories decreased by 0.4 million barrels from the previous week and total motor gasoline inventories decreased by 3.6 million barrels last week. (Event B on the chart.)

EURUSD for 2011-03-02

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

One Response to “EUR/USD Rises, Can Good US Jobs Market Stop Rally?”

  1. Adam Smith Forex

    I think EUR/USD will still raise in next few days until some good news break and stop this trend.

    Reply

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