Reuters has today reported a pick up in the growth rates of the US Job Market. This is backed up by analysis as Economists predicted a non-farm payroll increase of 225,000 since last month. The government is also at a consensus since it reported last month that the economy will add 209,000 jobs in July. Overally growth projections are in the positive as third-quarted growth estimates are as high as 3.5% annual rate. The Federal Reserve is still a little sceptical about these facts given slow wage growth, and an increased number of part-time jobs despite the fact that most people want full time employment.
The overall juxtaposition between the bullish US economy and the bearish European economy is an indication of the continued downward movement of the EUR/USD.