Data on the US labor market was contradictory
Today was published important macroeconomic report on the US labor market. Thus, in the US unemployment rate has remained at around 4.9%, which coincided with forecasts of analysts. The number of non-farm payrolls increased by 242 thousand vs. expected 195 thousand. The positive data has been weakened by the average hourly wage, which fell by 0.1%, against an expected increase of 0.2% in February. Positive labor market data reinforce confidence in the Federal Reserve raising interest rates this year, which will be negatively displayed on the euro price. In addition, the fall of the European currency in the near future, is possible in connection with the expectation of expanding stimulus by the ECB. Our medium-term outlook for the EUR remains negative.
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