U.S Nonfarm Payrolls Jumps to 280K in May , USD Rises !

USA Nonfarm payrolls min
USA Nonfarm payrolls min

Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity.

The U.S Nonfarm Payrolls rose from 223K, to 280K in the previous month , analysts had expected U.S. Nonfarm payrolls to rise 225K last month.

The U.S unemployment rate rose to 5.5%, from 5.4% in the last month , analysts had expected the U.S. unemployment rate to remain unchanged at 5.4% last month.

This development should boost US dollar , EURUSD falls as expected this early morning, but since the pair is around daily chart EMA30 at 1.1078 levels , expect some bounce before continuing falling, immediate resistance comes at the 1.1145 levels where rejection is very likely , however, a clear break below 1.1078 will open 1.0990 levels, further down will target the 1.0888 levels.

Support and resistance : 1.0888, 1.0990, 1.1078 , 1.1145 , 1.1210, 1.1277

EURUSD_H4_Jun05

US Dollar Index :As long as 95.20 support holds, outlook in USDINDEX remains on the upside towards the 97.23 levels ahead of the 98.00 levels, below 95.20 sees a corrective pullback  to 94.65 before the next rise..

Support and resistance : 94.65 , 95.20 , 95.77 , 96.68 , 97.23 , 98.00

USDINDEX_H4_Jun05

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UPCOMING ECONOMIC EVENTS