EUR/USD (a 4-hour chart)
The last U.S. employment report a little disappointed traders.
Typically, the employment report in the U.S. comes out on the first Friday of the month. The unemployment rate fell to 7.4% in July, the lowest level since December 2008. This is a significant improvement over the 8.1% unemployment rate, when the Fed began a third round of asset purchases.
Employment rose by 162,000 in July, and evaluation of the previous two months were reduced by 26,000.
The wage level is steadier than it was a year ago. Retail, financial services, food and beverage, health care, professional and business services recorded growth.
In the second quarter, real gross domestic product (GDP) rose more than expected, by 1.7%, but revised average real GDP growth over the last four quarters, giving only 1.4%. Although car sales declined slightly to 15.7 million units in July from 15.9 million for the month, the recent trend is the best in nearly six years.