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Negative U.S. Employment Report

Negative U.S. Employment Report | 18 June 2021

18 June 2021, EUR/USD

EURUSD trading plan:

Applications for U.S. state unemployment insurance rose slightly for the first time since late April, likely a temporary blip for a labor market that’s otherwise improving as the economy reopens. Initial claims in regular state programs increased by 37,000 to 412,000 in the week ended June 12, Labor Department data showed. Even with the increase in claims, which have been volatile during the pandemic, layoffs have declined significantly in recent months as health concerns ebb and businesses ramp up hiring. Traders forecast continued improvement in the labor market through the end of the year, with an expectation that the unemployment rate will fall below 5% by the end of the fourth quarter.

Investment idea: buy 1.1875 and take profit 1.1940.

David Johnson
Analyst of «FreshForex» company
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