Short term reversal or continuation ?
The US economy unexpectedly added 372,000 jobs in June, compared to an increase of 390,000 in May and well above market expectations of 270,000. The numbers are in line with the average monthly gain of 383K over the past 3 previous months, still indicating a tight labor market. Notable job growth occurred in professional and business services, recreation and hospitality, and health care.
The unemployment rate remained unchanged at 3.6%, in line with market estimates.
Closely watched wage growth fell to 5.10% year-on-year, after an upward-revised increase of 5.3% in May, above analysts' expectations of 5.0% year-on-year.
To conclude EURUSD went UP after the release of NFP data. The pair could go for the resistance zone at 1.0290 or reject the 1.0200 resistance zone and continue to be bearish until 1.0060.
The unemployment rate remained unchanged at 3.6%, in line with market estimates.
Closely watched wage growth fell to 5.10% year-on-year, after an upward-revised increase of 5.3% in May, above analysts' expectations of 5.0% year-on-year.
To conclude EURUSD went UP after the release of NFP data. The pair could go for the resistance zone at 1.0290 or reject the 1.0200 resistance zone and continue to be bearish until 1.0060.
Penafian
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