{"id":141082,"date":"2019-02-04T07:59:59","date_gmt":"2019-02-04T12:59:59","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=141082"},"modified":"2019-02-04T07:00:55","modified_gmt":"2019-02-04T12:00:55","slug":"eurusd-bears-trying-to-gain-take-control-in-the-asian-session","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/02\/eurusd-bears-trying-to-gain-take-control-in-the-asian-session\/","title":{"rendered":"EURUSD: bears trying to gain take control in the Asian session"},"content":{"rendered":"
February 4, 2019<\/div>
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By Matthew Anthony, Alpari<\/strong><\/p>\n

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Previous:<\/em><\/strong><\/p>\n

Most of the major currencies demonstrated growth against the US dollar last week. These included the Aussie dollar (+0.94%), the Canadian dollar (+0.89%), the Kiwi dollar (+0.75%), the euro (+0.42%), and the Japanese yen (+0.01%). The only currencies to lose out were the Swiss franc (-0.22%) and the British pound (-0.93%).<\/p>\n

Trading on most of these currencies closed down on Friday, with only the Loonie and the euro making gains. Volatility was high during the US session following the release of the jobs report, which showed mixed figures. While the number of new jobs created significantly exceeded expectations, the unemployment rate and average hourly earnings fell short of projections.<\/p>\n

304k new jobs were added to the US economy outside the agricultural sector in January against a forecast of 165k. The reading for November was revised from 176k to 196k, and the December reading from 312k to 222k. The aggregate revision amounted to -70k. As such, speculators treated the 304k figure for January with skepticism. Additionally, unemployment rose to 4.0% against a forecast of 3.9%. Average hourly earnings rose by 0.1% in January after an increase of 0.4% in December. The forecast for January was 0.3%.<\/p>\n

US dollar bulls were later pleased with the US manufacturing PMI, which posted a rise to 56.6 in January against a forecast of 54.2 and a previous reading of 54.3 (revised from 54.1).<\/p>\n

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