EUR/USD slides below 1.0350 on strong US jobs data and tariff concerns
EUR/USD has declined 0.5% to 1.0340, pressured by robust US employment data and renewed tariff risk concerns strengthening dollar demand. The latest US jobs report showed stronger-than-expected growth, reinforcing Federal Reserve hawkish positioning and pushing US Treasury yields higher. Dollar Index futures surged to 109.50, approaching multi-month highs as traders price in sustained Fed restrictiveness. Meanwhile, escalating trade tensions and potential US tariff implementations weigh heavily on European export prospects, further undermining euro sentiment. Technical indicators show EUR/USD breaking below key support at 1.0350, opening the path toward 1.0300 psychological level. The 200-day moving average at 1.0380 now acts as resistance, capping any relief rallies. With US economic resilience contrasting European growth concerns, the bearish EUR/USD trend appears set to continue unless significant support emerges near 1.0300.
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