EUR/USD: Bulls run out of steam just ahead of 1.0600 post-Payrolls.

EUR/USD faltered just pips below the 1.0600 mark.ECB’s Nagel defended a move on rates as soon as this year.US Nonfarm Payrolls surprised to the upside in April.

EUR/USD comes under some selling pressure after the daily recovery stalled near the 1.0600 region at the end of the week.

EUR/USD remains capped by 1.0640

EUR/USD deflates from earlier peaks and now faces some selling interest following a positive surprise from the US docket after the economy added 428K jobs in April, while the Unemployment Rate stayed unchanged at 3.6% in the same period.

Further data from the labour market saw Average Hourly Earnings expand 0.3% MoM and 5.5% from a year earlier. The Participation Rate, in the meantime, ticked a tad lower to 62.2%.

Indeed, the greenback regains some ground lost in the wake of the mixed results from the US labour market, which in turn puts the pair under some downside pressure in a context where yields on both sides of the Atlantic continue to march higher.

What to look for around EUR

EUR/USD came under renewed downside pressure in the wake of the FOMC event. The downtick, however, seems to have met contention around 1.0480 so far this week, while the upside looks limited near 1.0640. The outlook for the pair still remains tilted towards the bearish side, always in response to dollar dynamics, geopolitical concerns and the Fed-ECB divergence. Occasional pockets of strength in the single currency, in the meantime, should appear reinforced by speculation the ECB could raise rates at some point around June/July, while higher German yields, elevated inflation and a decent pace of the economic recovery in the region are also supportive of an improvement in the mood around the euro.

EUR/USD retreats from daily tops, holds above 1.0550 after NFP.EUR/USD has lost its traction after having tested 1.0600 earlier in the day but managed to stay in positive territory above 1.0550. The data from the US confirmed that labor market conditions remain extremely tight in April with NFP rising more than 400K despite a decline in the participation rate.


GBP/USD falls below 1.2350 as dollar holds its ground.GBP/USD has met fresh bearish pressure in the second half of the day on Friday and declined below 1.2350. Although the greenback weakened with the initial reaction to the US April jobs report, it managed to erase its losses amid the souring market mood.


Gold falls below $1,880 as US yields surge higher

Gold has reversed its direction and dropped below $1,880 after having advanced to $1,890 with the initial reaction to the US jobs data. The benchmark 10-year US Treasury bond yield is sitting at its highest level since November 2018 above 3.1%, weighing on the yellow metal.

Gold News 

Bitcoin Weekly Forecast: Bears take control after MicroStrategy’s margin call woes

Bitcoin Weekly Forecast: Bears take control after MicroStrategy’s margin call woes

Bitcoin price suffered a massive setback after a minor uptrend due to the FOMC meeting on May 5. While the Fed concluded a 50 basis point hike in interest rates, the volatility that it brought caused the stock market and BTC to crash.

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