EUR/USD dropped today as US employment growth was bigger than forecast and the unemployment rate provided a pleasant surprise, falling last month. It looks like the major concern of investors — the high level of unemployment in the United States — gradually loses its strength.
Nonfarm payrolls grew by 200,000 in December, compared to the average estimate of 152,000. The November growth was revised from 120,000 to 100,000. The unemployment rate surprised market participants, falling to 8.5%, while experts predicted it to stay at the previous level of 8.7% (revised from 8.6%). (Event A on the chart.)
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