The euro dropped against the dollar on the positive (compared to the expectations) nonfarm payrolls data today. It’s quite strange for EUR/USD to react to positive fundamental releases with a decline, but dollar is looking more attractive to the traders right now. EUR/USD is currently trading near 1.4317.
Nonfarm payrolls declined by 247k in July, following 443k drop reported for July (revised positively from 467k). A decline by 328k was predicted by the economic analysts. The overall unemployment rate went down from 9.5% to 9.4%, while a growth to 9.6% was expected.
Consumer credit fell by $10.3 billion in U.S. in the month of June, following $5.3 billion drop in May (revised negatively from -$3.2 billion). Market analysts forecasted a decline by $4.0 billion.
Yesterday, also a positive employment sector report was released in United States. Initial jobless claims fell from 588k to 550k last week, better than the forecast value of 580k.
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