EUR/USD jumped 1.5% on weak US jobs report.

EUR/USD jumped during European session today after the weak US job data. As of 1:00 PM EDT the pair was trading at 1.1332, which is 1.59% higher than the previous close.

Barclays analysts provided their outlook on EUR/USD yesterday. “We are overall bearish and would prefer to sell upticks. A break above nearby resistance in the 1.1220 area would signal room towards 1.1300/50 before sellers emerge. Our downside targets are towards 1.1095 and then the 1.0990 area” written in the report.

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European shares finished mixed today. Below is presented the performance of major indices:

  • FTSE 100 closed at 6,209.63, up 0.39%.
  • CAC 40 lost 0.99% finishing at 4,421.78.
  • Euro Stoxx 50 was trading at 2,997.55 as of 5:50 PM GMT, which is 1.20% lower than the previous close.

According to the data released today, the Eurozone retail sales remained steady in April compared with the previous month. Analysts had estimated a rise of 0.3% in April.

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Oil prices declined after the weaker-than-expected US jobs report. According to the data from Labor Department, the US economy added a seasonally adjusted 38,000 jobs in May, compared with the analysts forecast of 158,000 increase. “The market is having a little bit of trouble digesting this number, as you can see with the volatility,” said Jim Ritterbusch, president of energy-advisory firm Ritterbusch & Associates.

As of 12:57 PM EDT the WTI Crude was trading at 48.80 USD/bbl down 0.75% and Brent Crude at 49.73 USD/bbl, which represents 0.62% decline from the previous close.

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I’m a finance specialist with 4+ years of working experience, out of which 2 years as a SME relationship manager at Byblos Bank and 2 years as a Finance Director in a Food & Beverage sector. My academic background include BA in economics, MA in finance, CFA Level 1 and F1, F2, F3 level of ACCA. I’m also experienced in Forex/CFD trading and Forex/ Equity markets analysis.

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