FX.co ★ Hot Forecast for EUR/USD on December 9, 2024

The unemployment rate in the United States increased from 4.1% to 4.2%, which was not entirely unexpected. However, the dollar strengthened. The key driver was the creation of 227,000 new jobs outside the agricultural sector, significantly surpassing even the most optimistic forecasts. While this growth is insufficient to ensure long-term labor market stability, such a notable increase has led market participants to believe unemployment may stabilize soon. Some even speculate that the rise in unemployment could be temporary.

The macroeconomic calendar for today is virtually empty. The market will likely aim to consolidate around the levels reached on Friday.