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Euro Weakened in response to the US Non Farm Payroll

 

  
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The euro weakened against the greenback on Friday after the announcement of  U.S. employment data which adds to optimism over the recovery in the U.S. labor market.

As the dollar strengthened after the U.S. Labor Department announced sector employment increased by 236,000 jobs in February, far from the expectations of 160,000, after rising as much as 119 000 in the last month.

EUR / USD touched 1.3011 level during the European trading day, which is then consolidated down 0.63% at 1.3027. Currency pair is likely to find support at 1.2929 level and the resistance level at 1.3134 level.

Meanwhile, the euro weakened against the pound, with EUR / GBP fell 0.29% at 0.8716 level.

 


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