Euro Surges on Disappointing U.S. Jobs Data

[DeepModem Mom]

AFP (sorry, via Drudge):

The euro soared by over a cent to above the 1.23-dollar threshold after a keenly awaited US labour market report defied expectations with only a modest rise in employment.

The single European currency leapt to 1.2343 dollars after the US government said American businesses added a meager 21,000 jobs in February, dashing hopes for an end to a three-year jobs drought....

***

Economists had been forecasting a jobs gain of 125,000, although many investors were looking for an even bigger increase.

"This is another disappointing employment data which confirms that it is not all clear just yet for the US recovery, with persistent question marks over the labour market," said Audrey Childe-Freeman, economist at Canadian Imperial Bank of Commerce.

"Recent rate hike talks will quickly be forgotten and this is bad news for the dollar," she added....


http://sg.biz.yahoo.com/040305/1/3ijjk.html

[young_at_heart]

1. Those of us who have to transfer dollars to euros are unhappy!

This sucks!

[xchrom]

2. yes i'm going to rome in october

but making my reservations noww -- incredibly expensive compared to last year.