EURUSD Took A Break. Overview for 07.02.2022
The major currency pair slowed down a little bit after skyrocketing earlier.
EURUSD reached stability after strengthening last week. The current quote for the instrument is 1.1421.
Last Friday, the US reported on the labour market for January. The data was a little bit mixed but still showed that the sector was doing fine.
For example, the Unemployment Rate report raised some questions – it showed 4.0% after being 3.9% in the previous month. We may assume that it was just an adjustment for seasonal fluctuation and nothing more. The Non-Farm Payrolls report showed 467K, an excellent result, considering that the expected reading was just 110K. Another positive thing is that the December report was revised upwards, from 199K to 501K.
The Average Hourly Earnings added 0.7% m/m and that’s also better than expected.
The statistics confirmed that the US labour market was stable. This fact may help the US Fed to make decisions on tightening its monetary policy.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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