Forex: EUR/USD reacts down after the worst than expected US unemployment data

Fri, Nov 6 2009, 13:41 GMT
http://www.fxstreet.com

FXstreet.com (Barcelona) – The Euro has reacted down against the Greenback on the back of the worst than expected October unemployment data. EUR/USD has fallen 55 pips in the minutes following the data from 1.4875 to break MA55 hourly at 1.4845 and hit intra-day low at 1.4820.

Currently the pair is trading around 1.4850/60, 0.05% below today's opening price action at 1.4870.

U.S. non farm-payrolls have declined by 190,000 in October, somewhat above the 175,000 decline expected by the analysts, while the unemployment rate has risen 0.4% to 10.2%, the Dollar has soared across the board.

EUR/USD

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