EUR/USD declined today from 1.5596 to 1.5560. Although the early decline was strong, the U.S. employment report disappointed many traders who bought dollars and it corrected almost a half of its earlier gains. But even after the report dollar is still trading higher against euro than it closed yesterday.
Nonfarm payrolls declined by 51,000 in July — at the same rate as in May (revised up from 62,000 decline). The average forecast was 75,000 decline. Unemployment rate propelled to 5.7% against 5.5% last month and 5.6% forecast for July.
Total public construction spending dropped 0.2% in June compared to May after losing 0.4% in May. The consensus forecast for June was 0.3% decline.
ISM manufacturing index (PMI) went down slightly in July — from 50.2 to 50, but the market analysts expected a much worse decline to 49.2, so the current report can probably be ignored by the Forex participants.
