EUR/USD continued to move down today on fears of debt crisis in Europe, even though poor employment reports could have weakened the dollar. Unemployment rate showed positive change despite increasing jobless claims and
Nonfarm payrolls increased by 103k in December, compared to the expected change by 159k. November figure was revised upwardly from 39k to 71k. Nonfarm payrolls dropped from 9.8% to 9.4%, while it was expected to decline only slightly ti 9.7%.
Consumer credit rose $1.3 billion, while forecasts promised a very small change by $0.1 billion. Previous reading was revised considerably from $3.4 billion to $7.0 billion.
Yesterday, a report on initial jobless claims was released, showing an increase from 391k to 409k last week.
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