We said this morning that we expected low NFP number due to the high number of Covid-19 cases in December.  This turned out to be the case with 140 thousand jobs lost last month in the US. The loss was the first since April last year but wasn’t a surprise. We have pointed out earlier that the trend has been down in the US and now that the number of Covid-19 cases was on increase in December it was widely expected that the number will be quite low. Analyst consensus remained rather positive (as they tend to be) expected to see a positive month with 50K jobs added. This disappointment sends a message to the US lawmakers to hurry up with a further economic stimulus for the ailing US economy. EURUSD has rallied to our resistance at 1.2280 but wasn’t able to push through the level on the first attempt. See today’s Price Action Analysis video for two potential price action scenarios for EURUSD. We do not provide investment advice. Read the disclaimer at the bottom of this page. 

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Janne Muta
Chief Market Analyst
TIOmarkets.com

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