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    MARKET ANALYSIS AND NEWS US Non-Farm Payrolls increased 215k Market News

    EURUSD, 60 min

    US nonfarm payrolls increased 215k in March after a revised 245k in February gain (was 242k) and a 168k rise in January (revised from 172k), for a net -1k revision. The Q1 average gain was 209k versus the 223k average for the 2015. The unemployment rate edged up to 5.0%versus 4.9% as household employment increased 246k versus the 530k February jump, with the labor market up another 396k following the prior 555k surge.

    The labor force participation rate rose to 63.0% versus 62.9%. Earnings bounced 0.3% versus the 0.1% dip previously. The work week was unchanged at 34.4. Private payrolls rose 195k, though jobs in the goods producing sector fell 4k, with manufacturing down 29k, while construction up 37k. The service sector added 199k jobs, helped by a 51k rise in trade/transport. Government added 20k. This is a pretty solid jobs report.

    EURUSD is trading near the upper end of the trading range and close to October 2015 highs. At the time of writing the pair has not yet reacted strongly. The nearest support level is at 1.1377 while the nearest resistance is at 1.1495. The 4h chart is about to create a bearish shooting star candle if it closes below 1.1413. The indication is EURUSD bearish and suggests that the pair is getting ready to correct to lower levels.

     

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    Janne Muta

    Chief Market Analyst

    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.


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