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Apr 02 - 03:55 PM

EUR/USD - Great US Jobs Data Cuts Short Technical Recovery

By Randolph Donney  —  Apr 02 - 12:13 PM

  • EUR/USD's recovery from this week's low undone by big NFP beat

  • It had already run into tech resistance near 1.18 pre-NFP nL1N2LV0EG

  • Focus after payrolls underpins Treasury yields is on 1.16 nL1N2LV0KI

  • Ranges restrained by Friday's Good Friday holiday

  • More closures Monday, but U.S. fully open again

  • Monday brings ISM non-mfg after +780k services jobs in NFP report

  • U.S.-EU pandemic stats comparisons are an ongoing driver

  • ECB PEPP to keep EZ yields subdued

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Source:
Refinitiv IFR Research/Market Commentary

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