Johnman
Long

Fundamental outlook from US employment

FX:EURUSD   Euro Fx/U.S. Dollar
104 0 0
Employment figures seem to be back on track, and although a June hike is probably out of the question, this could mean the Fed won't be pushing it further back.

Average hourly earnings, however, continues to worsen. Bad pay definitely has an effect on consumer spending and ultimately inflation, and this might worry investors. The question is, will it worry the Fed?

At least until we have reassuring word from the Fed, disappointing earnings could send the pair higher. Short term long. Long term, who knows?

EDIT/NOTE: Previous employment change was revised down to 85K.
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