EUR/USD Jumps Up on Deteriorating Economic Conditions

The euro rose against the U.S. dollar today despite the unexpectedly bad values reported on the two important macroeconomic indicators in United States. With each new trading session it looks like the dollar is becoming more and more positively correlated with the U.S. economy, losing when the fundamentals are bad and gaining when they are good. EUR/USD is now trading near 1.4594.

Nonfarm payrolls were reported at -263k for September — that’s worse than -201k reported for July and -175k value of the forecast. Unemployment r