7 Aug 2015
EUR/USD erases NFP losses, eyes daily highs
FXStreet (Córdoba) - EUR/USD bottomed after the release of the US employment report at 1.0854, slightly above weekly lows but then bounced to the upside, and rallied almost a hundred pips in less than and hour, rising, climbing back above the level it had before NFP.
The pair peaked at 1.0955 and currently trades at 1.940/45, up 20 pips for the day as the US dollar retreats sharply across the board.
USD up but then down
Economic data was slightly below expectations but continue to show a solid labor market, with NFP remaining above 200K.” There still is one employment report before the FOMC meeting in September, but the risks of a lift-off then appears to have increased”, said Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman
Greenback initially rallied but then lost strength and reversed. The euro recovered ground and printed fresh highs versus the pound, that is the worst performer on the American session so far.
EUR/USD holds a positive tone as it point toward daily highs that lie at 1.0970/75, a break higher would expose 1.1000. During the current week it never traded above the 1.10 handle.
The pair peaked at 1.0955 and currently trades at 1.940/45, up 20 pips for the day as the US dollar retreats sharply across the board.
USD up but then down
Economic data was slightly below expectations but continue to show a solid labor market, with NFP remaining above 200K.” There still is one employment report before the FOMC meeting in September, but the risks of a lift-off then appears to have increased”, said Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman
Greenback initially rallied but then lost strength and reversed. The euro recovered ground and printed fresh highs versus the pound, that is the worst performer on the American session so far.
EUR/USD holds a positive tone as it point toward daily highs that lie at 1.0970/75, a break higher would expose 1.1000. During the current week it never traded above the 1.10 handle.