The US economy added 49k jobs in January, compared to downwardly revised 227k drop in December and below market expectations of 50k. It is a small gain that which leaves the economy about 10 million jobs short from the peak in February of 2020.
The jobless rate declined to 6.3% from 6.7% last month. Average hourly earnings declined to 0.2 % MoM. Average hourly earnings for all employees on private nonfarm payrolls rose 5.4.% over the month in January, abovemarket expectations of 5% gain.
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EURUSD broke above the 50 SMA (green line) after today's data releases and is heading towards resistance level at 1.2010. Source:xStation5
