Euro Breaks Above $1.14 Line

Forex News

The euro remains strong at the beginning of the week. The EUR/USD pair added 0.34% to trade at 1.1418 level. The single currency stayed almost unchanged on Friday, as it couldn’t take advantage from falling US dollar after dismal employment numbers.

US non-farm payroll (NFP) report was weaker than expected. NFP showed only 155k growth in November, well below expectation of 200k. Prior month’s figure was also revised down from 250k to 237k. Unemployment rate, though, as unchanged at 3.7% and matched expectation. Meanwhile, average hourly earnings rose only 0.2% mom, missed expectation of 0.3% mom.

Today’s data from the Eurozone showed, that Sentix Investor Confidence index fell to the lowest level since December 2014 and showed the fourth consecutive monthly drop. The index fell to -0.3 in December from 8.8 in November. Economists had expected a fall to 8.1.

Meanwhile, German October’s exports were up 0.7% and imports up 1.3% compared with September, in calendar and seasonally adjusted terms. That lowered the trade surplus to EUR 17.3 billion ($19.74 billion) in October, from EUR 17.7 billion in September, above the estimate of EUR 17.2 billion.