EURUSD has increased to its highest level since the ninth of the last November after the development and economic data today’s Friday about Eurozone economic and the American economic the biggest economic in the world.
At 3:51 pm GMT EURUSD has increased by 0.53% to the level 1.1272 compared with the opening level 1.1213 after it records the highest level in seven months at 1.1282 while recording the lowest level during the session trading at 1.1205
And we followed the fourth biggest Eurozone economic Spain issued the reading of unemployment change index which observed about 111.9 thousand jobs during the last May, other than the expectation, before we see the zone economic and the reading stability of producers prices index at the zero without the expectation during the same month
Otherwise we follow the American Economic and it observed the reading of changes in jobs sectors index except agricultural sector which observed a slowdown in jobs growth by 138 thousand additional jobs during May, while the unemployment rates in the United States had backed down to the lowest level since March 2001 to 4.3% compared with the last monthly reading and the expectation at 4.4%.
And the difference in American labor market comes under pricing the markets monetary policy makers chances at the federal reserve bank and to move on to tightening the monetary policy during current June meeting and the federal committee members of the open market may reveal about their expectation about the unemployment and inflation rates adding to their expectation about the future of the interest prices for the next three years.
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Professional Trader and Analyst at TradingBroker.co.uk
Professional Trader and Analyst, economist in Financial and Forex market since 2004.holds an MBA from the American University in Egypt. Mohammed works as an economic writer and technical & fundamental analyst for many international Forex & Binary Options trading companies in both English and Arabic on a daily basis.