The range of the US economic reports caused a short-term strengthening of the EUR/USD currency pair, which continued the session at pre-data levels. The European single currency added 25 base points or 0.22% against the US dollar, but quickly returned to the 1.1650 area, where the bearish sentiment was sustained until Monday morning.
The Labour department revealed that the US job growth sped up in October, while the yearly wage growth as well as participation rate fell in the reported period, clouding the outlook of the job market. The report showed that the country’s economy added 261K jobs in the reported period, missing forecasts for a 310K increase. The weak pay growth is likely to hamper inflation to reach 2% target.
