USD Rally Takes Market by Surprise: Overview for February 05, 2024

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSD_14-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="EUR/USD analysis today" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR/USD</a> pair continues its downward trajectory.</p>

<p>The primary <a href="https://blog.roboforex.com/blog/2020/06/19/how-to-choose-a-currency-pair-for-trading-in-forex/" data-internallinksmanager029f6b8e52c="142" title="Currency Pair">currency pair</a> is experiencing sustained pressure on Monday, with the current EUR/USD exchange rate at 1.0770.</p>

<p>The US dollar is undergoing a rapid appreciation. Following the comments from the Federal Reserve last week, investors have abandoned any expectations of an <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> increase in March.</p>

<p>The January employment report released last Friday further strengthened the market's confidence in the sustainability of the US economy.</p>

<p>Average hourly earnings increased by 0.6% month-on-month, surpassing the expected 0.3% rise. Non-farm payrolls (<a href="https://blog.roboforex.com/blog/2019/10/15/trading-news-how-to-make-money-on-non-farm-payrolls/" data-internallinksmanager029f6b8e52c="88" title="Nonfarm Payrolls">NFP</a>) increased by 353 thousand, exceeding the forecasted 187 thousand. December's reports were revised upwards to 333 thousand. The unemployment rate remained at 3.7%, although an increase to 3.8% had been anticipated.</p>

<p>The employment sector is remarkably robust, causing concern for the Federal Reserve.</p>

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<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a href="https://blog.roboforex.com/blog/2024/02/05/usd-rally-takes-market-by-surprise-overview-for-february-05-2024/">USD Rally Takes Market by Surprise: Overview for February 05, 2024</a> appeared first at <a href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>