EUR/USD Falls as US Unemployment Rate Drops

EUR/USD extended its losses as the European Central Bank kept its main interest rates unchanged yesterday and as US unemployment rate dropped. On the other hand, non-farm payrolls were far worse than market participants have hoped for. EUR/USD trades currently at 1.3565.

Non-farm payrolls increased by 36k in January, following the increase by 121k in the month before. The change was really depressing and far below market expectations of 138k. Yet
Non-farm payrolls managed to drop from 9.4% to 9.0%, while it was expected to increase to 9.5%. (Event A on the chart.)


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