EUR/USD to test key supports at 1.0900/1.0850 on stronger-than-expected NFP – ING

Market news

4 August 2023

EUR/USD to test key supports at 1.0900/1.0850 on stronger-than-expected NFP – ING

The EUR/USD decline stalled around 1.0910 on Thursday. Economists at ING analyze the pair’s outlook.

EUR/USD moves will entirely be determined by US jobs data

With the Eurozone calendar being very light, EUR/USD moves will entirely be determined by US jobs data and any more swings in treasury yields today.

Any sub-consensus read should see a return to 1.100+ levels, while stronger-than-expected numbers would drag the pair to the next key supports at 1.0900 and 1.0850.

See – NFP Preview: Forecasts from 9 major banks, moderate downward trend in job growth

USD/CAD: Employment data should not provide much momentum for the Loonie – Commerzbank

USD Index treads water around 102.50 ahead of Payrolls

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