Forex: EUR/USD tumbles to 1.2804

on Jul 5, 2013
Listen Friday July 5th:_ The euro has fallen against the US dollar in late European trading, following positive US employment data released earlier in the session. To this point the pair has fallen 85 pips to 1.2804, its lowest price since May 17.

The US economy added 195,000 jobs in June, easily beating expectations for a 165,000 increase, with May revised from 175,000 to also hit 195,000.
The unemployment rate for June came out unchanged though, at May’s 7.6 percent, missing expectations for a modest fall to 7.5 percent.
Average Weekly Hours were unchanged in June at 34.5, in line with analysts’ expectations.

And Average Hourly Earnings for June m/m and y/y both improved, respectively up 0.4 percent (prior 0.1) and 2.2 percent (prior 2.0).
Notwithstanding this upbeat data and ADP’s US Employment Change for June, which on Wednesday came out with an increase of 188,000 jobs, the foreign exchange markets remain skittish. US Fed chairman Ben Bernanke’s observations from three weeks back that quantitative easing could start to be wound down this autumn remains the defining regulatory contribution to market activity.