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6/4/2021 12:48:20 PM GMT | By Pablo Piovano
EUR/USD bounces off daily lows and tests 1.2150.
US Non-farm Payrolls rose by 559K jobs in May.
The unemployment rate eased to 5.8% (from 6.1%).
The buying interest around the single currency regains some composure and pushes
EUR/USD back to the area of 1.2160 in the wake of USNFP.
EUR/USD jumps to daily highs post-NFP
EUR/USD reverses the initial pullback on Friday after the US economy created 559K jobs during May, missing consensus for a gain of 650K jobs. The April’s reading was revised to a gain of 278K (from 266K).
Further data showed the jobless rate dropped to 5.8% (from 6.1%) and the critical Average Hourly Earnings – a proxy for inflation via wages – rose 0.5% MoM and expanded 2.0% over the last twelve months. Another key gauge, the Participation Rate, ticked higher to 61.6%.