Forexlive
EUR/USD rises on soft NFP data, ECB policy outlook unchanged
EUR/USD gained 0.4% to 1.0975 following softer-than-expected US Non-Farm Payrolls data, which came in below whisper numbers, triggering a classic 'bad news is good news' rally in risk assets. The disappointing jobs report has reignited speculation about potential Fed policy adjustments, weakening the dollar across major pairs. European equities responded positively, with the STOXX 600 climbing 2.23% for the week, reflecting improved market breadth and risk appetite. While the data doesn't significantly alter ECB policy expectations, the combination of dollar weakness and improved European market sentiment has provided support for the euro. Technical indicators suggest immediate resistance at 1.1000 psychological level, with support established at 1.0940. Traders should monitor upcoming ECB communications and US inflation data for directional cues, as the pair remains sensitive to central bank policy divergence expectations.
EURUSD
Sentiment:
Positive
Source: Finnhub