Following a brief consolidation phase during the Asian trading hours on Friday, EUR/USD came under heavy bearish pressure in the European morning and touched its weakest level since December 2002 below 1 .0100. The pair is now less than 100 pips away from hitting parity.

The risk-averse market environment on Friday seems to be providing a boost to the greenback and causing the pair to continue to push lower. US stock index futures are down between 0.2% and 0.3% while the US Dollar Index rises 0.65% at 107.75.

Later in the day, the US Bureau of Labor Statistics will release the June jobs report. Nonfarm Payrolls are expected to rise by 268,000 in June following May's better-than-forecast increase of 390,000. 

Nonfarm Payrolls Preview: Three dollar-positive scenarios, only one negative one.

EUR/USD 15-min chart