EUR\/USD extends the rebound from earlier cycle lows. The US Non-farm Payrolls rose by 372K jobs in June. The unemployment rate remained at 3.6%.
Despite the rebound from lows, the selling interest around the single currency remains well and sound and motivates EUR\/USD to keep the price action subdued around 1.0100\/15 at the end of the week.
EUR\/USD still faces a potential drop to parity. The EUR\/USD pair keeps the negative stance on Friday after the release of the Nonfarm Payrolls showed the US economy created 372K jobs during June, surpassing initial estimates for a gain of 268K jobs. The May reading was revised down to 384K (from 390K).
Further data saw the jobless rate unchanged at 3.6%, and the key Average Hourly Earnings \u2013 a proxy for inflation via wages \u2013 rise 0.3% MoM and 5.1% from a year earlier. Additionally, the Participation Rate eased a little to 62.2%.
Bears maintain the EUR\/USD under heavy pressure, and the acceleration of the downside opens the door to a probable visit to the parity level sooner rather than later.
The pair\u2019s price action remains depressed and keeps closely following rising speculation around a probable recession in the region, dollar dynamics, geopolitical concerns, fragmentation worries and the Fed-ECB divergence.
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EUR\/USD extends the rebound from earlier cycle lows. The US Non-farm Payrolls rose by 372K jobs in June. The unemployment rate remained at 3.6%.Despite the rebound from lows, the selling interest around the single currency remains well and sound and motivates EUR\/USD to keep the price action subdued around 1.0100\/15 at the end of the …<\/p>\n","protected":false},"author":13,"featured_media":58857,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6923,6884,7957],"class_list":["post-68277","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-ecb","tag-eur-usd","tag-nfp-data"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=68277"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68277\/revisions"}],"predecessor-version":[{"id":68281,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68277\/revisions\/68281"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/58857"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=68277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=68277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=68277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}