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EUR/USD Surges on US Nonfarm Payrolls

September 7, 2012 by

EUR/USD soared today, rising for the third consecutive session, as US nonfarm payrolls came out worse than expected, refueling speculations that a the Federal Reserve will embark on a third round of quantitative easing as soon as next week. The falling unemployment rate did not help the dollar.

US nonfarm payrolls came out today, showing the increase by 96k in August, below the market expectations of 123k. The July growth was revised from 163k to 141k. At the same time, the unemployment rate managed to drop by 0.2 percentage point to 8.1%. (Event A on the chart.)

EUR/USD for 2012-09-07

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One Response to “EUR/USD Surges on US Nonfarm Payrolls”

  1. Jeff

    I missed this move, I never seem to get in on any of the NFP days, those days are scary to me.

    Reply

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