The latest NFP and Unemployment data is out:
USD Unemployment Rate (APR)
Actual: 4.4%
Survey: 4.6%
Previous: 4.5%
USD Change in Non-farm Payrolls (APR) comes in better than expected.
Actual: 211k
Survey: 190k
Previous: 79k
The aforementioned data was not enough to drive investors interest back to the US dollar and after the news release all USD pairs ended up with little to no change. Currently, the EUR/USD pair is trading higher than pre-news. Price is now 1.0989, a level marking the weekly high.
If the pair closes around current market price, next week could turn out to be a continuation of the upside move in the EUR/USD.
Above 1.10 would be an indication that market participants are drifting away from the US currency in regards to the rumors about a rate hike in June.
It may not be able to break above 1.1000 this week.
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