April 2, 2021 by
EUR/USD has been trading in a range on Friday. The currency pair demonstrated huge swings between gains and losses immediately after the release of US nonfarm payrolls but ultimately did not move far from the opening level.
Nonfarm payrolls surged by 916k in March, exceeding already optimistic market expectations of a substantial 652k increase by a wide margin. On top of that, the previous month’s gain got a positive revision from 379k to 468k. Unemployment rate dropped to 6.0% from 6.2%, matching forecasts. Average hourly earnings fell by 0.1% instead of rising at the same rate as economists had predicted. The previous month’s increase got a revision from 0.2% to 0.3%. (Event A on the chart.)
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