Employment Change disappoints in the U.S
The United States released it's Employment Change and Unemployment Rate figures. Results disappoint as USD spirals downwards drastically against major currencies.
Only 54,000 jobs were created during May, much less than what was expected by economists who forecasted around 160,000 jobs to be gained in May. Employment Change drops after two consecutive months of higher than expected results. April has 232,000 jobs created.
Jobless rate percentage went up from 9.0 to 9.1%. This measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month;
With 0.3%, a glipse of good news came out about the U.S average hourly earnings. They were expected at 0.2% from previous 0.1%.
EUR/USD is constantly gaining the European currency making it stronger by the minutes. EUR/USD has been trading at high levels all day, breaking one-month highs. Before the U.S news release, the pair was trading around 1.4495; only to above the resistance level of 1.4520 to reach 1.4530. Currently it drawed back to the 1.4520 price.
