The EUR/USD whipsawed following a weaker than expected headline U.S. employment report that showed a weaker than expected headline number. The exchange
The EUR/USD whipsawed following a weaker than expected headline U.S. employment report that showed a weaker than expected headline number. The exchange rate broke through trend line support on Thursday, and tested the lows on Friday at 1.1080. Resistance is seen near the 20-day moving average at 1.12.
The U.S. jobs report tracked expectations on net, despite the kneejerk focus on the lean 173k August payroll gain. There was 44k in upward revisions that left the August level of payrolls in line with estimates. Hourly earnings beat estimates with a 0.3% climb. The 196k civilian employment rise was robust, while a 41k labor force drop allowed a plunge in the jobless rate to a 5.11% new cycle-low.
David Becker focuses his attention on various consulting and portfolio management activities at Fortuity LLC, where he currently provides oversight for a multimillion-dollar portfolio consisting of commodities, debt, equities, real estate, and more.
