The euro slipped 0.7%, more than any closing loss since April 30 and the pair accumulated a loss of 1.22% in four trading sessions. Fundamental factors influenced the rose as most technical indicators suggested an uptrend.
Applications for U.S. state unemployment insurance dipped below 400,000 for the first time during the pandemic. Hiring has seen an acceleration as the country recovers from the crisis caused by the virus; this suggests an acceleration, and the economy strengthens as we head into the summer months.
Initial claims in regular state programs decreased by 20,000 to 385,000 in the week ended May 29. The labor market continues to gain strength as some states have eased on pandemic restrictions and are more fully vaccinated. Other states continue with heavy pandemic restrictions
According to a separate report by ADP Research Institute on Thursday, U.S. companies added 978,000 private payroll jobs in May, the most in nearly a year.
We love to hear new ideas from traders and want to know what you think!
If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.