The EUR\/USD pair has risen above 1.1007, positioning the Euro for a strong finish. The US Nonfarm Payrolls report showed an 187K increase in labor force participation and an unemployment rate of 3.6%, higher than 3.5%.
This resilience is a key factor holding inflation at or around 3%, making the task of the US Fed more challenging. However, salaries continued to rise, with the average hourly wage rising to 4.4% YoY from the expected 4.2%.
The market penalized the dollar after the data release, and US Treasury bond yields fell, resulting in the EUR\/USD appreciation. German factory orders were strong in June, but they were offset by weak retail sales at -0.3% MoM, below expectations of 0.2%.
There is a 35% possibility that the ECB will increase interest rates by 25 basis points in September, but estimates for October and November are still high at 60% and 70%, indicating that the ECB would follow the Fed’s lead and miss meetings to discuss monetary policy.<\/p>\n","protected":false},"excerpt":{"rendered":"
The EUR\/USD pair has risen above 1.1007, positioning the Euro for a strong finish. The US Nonfarm Payrolls report showed an 187K increase in labor force participation and an unemployment rate of 3.6%, higher than 3.5%. This resilience is a key factor holding inflation at or around 3%, making the task of the US Fed …<\/p>\n","protected":false},"author":13,"featured_media":53676,"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":[6923,6884,7697,6987],"class_list":["post-87399","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-ecb","tag-eur-usd","tag-german-factory-orders","tag-inflation"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87399","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=87399"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87399\/revisions"}],"predecessor-version":[{"id":87406,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87399\/revisions\/87406"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53676"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=87399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=87399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=87399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}