EUR/USD is trading not much weaker than prior to the US labor market report on Friday. Economists at ING believes that the pair can advance toward the 1.0930/50 zone today.

1.10 is holding EUR/USD for now

“Recent public holidays may well have played a factor in keeping EUR/USD below 1.10 and the pair only saw a muted reaction to what was a good US March NFP release last Friday. Potentially, EUR/USD could have come a lot lower on this after it firmed up expectations for a 25 bps Fed hike on 3 May. Instead, EUR/USD is trading in a narrow range and waiting for its next major input, probably from the western side of the Atlantic.”

“EUR/USD can edge back up to the 1.0930/50 area today assuming that equities stay mildly bid and the US NFIB data emerges on the soft side.”