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Does the unempoyment rate support the USD on Friday?

After the USD has already received strong support from the data to the U.S. labor market yesterday, new and continuing jobless claims were below forecasts, it could get today another positive boost. At 08:30h (GMT -5) the current data of U.S. unemployment will be published. Apart from the fact that any reduction in unemployment is seen as a positive signal for the economy, it is an important factor for the reduction of bond purchases by the Fed. If the publication is below the forecasted 7.5%, this could be regarded by investors as a signal that the Fed still restricts their purchases this year and continue to increase the value of the USD. After the pair EUR / USD in the last days had scrached of the mark to 1.3300 already, he could fall below the mark of 1.3200 then today. An important role is also the data on Non-Farm Payrolls. Currently the EUR/USD-rate is 1.3220.

 

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