Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
EUR/USD Surges Above $1.1000 as March NFPs Severely Disappoint

EUR/USD Surges Above $1.1000 as March NFPs Severely Disappoint

Talking Points:

- US Nonfarm Payrolls miss expectations at +126K.

- US unemployment rate ticks holds at 5.5% despite participation rate falling.

- EURUSD jumps to fresh weekly highs at $1.1021 as report mostly negative.

The US Nonfarm Payrolls headline reading plunged to +126K for March, a rather weak figure, well-below the prior three-month average of +265K – and dragging the current three-month average to +197K in the process. Overall, the headline numbers were mostly bad: the actual missed estimations by -119K; the prior was revised lower by -31K to 264K; and the average hours worked figure declined, suggesting lower productivity in the US economy.

Here’s a summary of the data this morning that’s responsible for US Dollar selling:

- USD Change in Nonfarm Payrolls (MAR): +126K versus +245K expected, from +264K (revised lower from +295K).

- USD Change in Private Payrolls (MAR): +129K versus +235K expected, from +264K (revised lower from +288K).

- USD Unemployment Rate (MAR): 5.5% as expected unch.

See the DailyFX economic calendar for Friday, April3, 2015.

Read more: April Forex Seasonality Foresees Weakest Month of Year for USD

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES