EUR/USD continued to rise today, but the currency pair relinquished part of its gains after the US unemployment rate unexpectedly dropped last month. The positive market sentiment still supports the euro, yet again traders talk that the European leaders need to perform some visible steps to defeat the region’s crisis and such talks may wear the euro down.
US nonfarm payrolls rose 120k in November, matching the forecast value of 126k. The October value was revised from 80k to 100k. Unemployment rate provided a pleasant surprise, falling to 8.6% from 9.0%. (Event A on the chart.)
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