EUR/USD keeps the bearish note intact below 1.1000. The unemployment rate ticked lower to 3.8%.The selling interest around the single currency remains well and sound at the end of the week and drags EUR/USD to the 1.0930 area in the wake of US NFP.EUR/USD in fresh lows around 1.0930.EUR/USD keeps the negative stance on Friday after the US economy created 678K jobs during February, bettering expectations for a gain of 400K jobs. The January reading was revised to 481K (from 467K).Further data showed the jobless rate eased to 3.8% and the critical Average Hourly Earnings – a proxy for inflation via wages – came flat on a monthly basis and expanded 5.1% over the last twelve months. Another key gauge, the Participation Rate, improved to 62.3%.
EUR/USD levels to watch.So far, spot is losing 1.13% at 1.0940 and faces the next up barrier at 1.1192 (10-day SMA) followed by 1.1309 (55-day SMA) and finally 1.1395 (weekly high Feb.16). On the other hand, a drop below 1.0924 (2022 low Mar.4) would target 1.0900 (round level) en route to 1.0870 (low May 25 2020).
EUR/USD remains under constant selling pressure, drops below 1.0900.EUR/USD extended its daily slide and touched its weakest level in 22 months below 1.0900. The broad-based dollar strength continues to weigh heavily on the pair after the February jobs report showed that Nonfarm Payrolls rose by 678,000, beating the market forecast of 400,000 by a wide margin.
EUR/USD News .GBP/USD pushes lower toward mid-1.3200s on upbeat US NFP data.GBP/USD pushes lower toward mid-1.3200s on upbeat US NFP data
GBP/USD stays on the back foot in the American session on Friday and pushes lower toward 1.3250. The US Dollar Index is up 1% on the day after the US Bureau of Labor Statistics’ monthly report revealed that Nonfarm Payrolls increased by 678,000 in February, vs 400,000 expected.
GBP/USD News .Gold clings to modest gains after NFP, stays below $1,950.Gold edges slightly lower after testing $1,950 on Friday but manages to stay afloat in positive territory above $1,940. The impressive February jobs report from the US allowed Treasury bond yields to recover modestly, limiting XAU/USD’s upside.
Gold News ..GBP/USD pushes lower toward mid-1.3200s on upbeat US NFP data.GBP/USD stays on the back foot in the American session on Friday and pushes lower toward 1.3250. The US Dollar Index is up 1% on the day after the US Bureau of Labor Statistics’ monthly report revealed that Nonfarm Payrolls increased by 678,000 in February, vs 400,000 expected.