11, March 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The Non-Farm came out weaker than everyone expected. The final figures cam out at around 175,000, that better than the forecast was. On the one hand it is much better than the two previous reports in December when a growth was only 84,000, and 129,000 in January. The positive report on nonfarm payrolls signals of an economic recovery after two months of a decline. On the other hand, in February, the overall unemployment rate rose to 6.7 %, which is also negative for economic growth.

That increase in unemployment has become a stumbling block to the strong growth of the U.S. dollar versus its major competitors. Traders took profits on long positions in the light of moderately positive labor report in the United States.

The pair GBP/USD is descending. In the absence of interesting reports from the UK - investors focused on the dynamics of trading in the stock markets and the publication of macroeconomic data from the U.S.. The Non-Farm figure was better than market expectations, which led to a reduction in the stock markets of Europe and cheered "bears" to open short positions.

Best of all the U.S. currency felt versus the Japanese yen. The report on the non-farm employment growth accelerated the pair. We believe that the growth will be continued this week.