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Feb 02 - 04:55 PM

EUR/USD - US Jobs Report Stunned Bulls, Gave Shorts The Reins

By Christopher Romano  —  Feb 02 - 01:40 PM
  • 1.0897 traded on EBS in Europe, NY opened near 1.0885, sharp fall ensued

  • Jan. NFP, AHE indicated labor market is in good shape, wage pressures rising

  • US yields US2YT=RR rallied sharply, DE-US spreads US2DE2=RR tightened

  • Investors reduced probability of a March Fed cut toward 20% IRPR

  • US$ rallied broadly, USD/CNH hit 7.2165 (D3) & gold XAU= turned lower

  • EUR/USD turned lower, fell back below the 10- & 200-DMAs, daily cloud base

  • Thursday's 1.0780 low was neared, EUR/USD traded down -0.79% late in the day

  • Falling RSIs, daily inverted hammer candle are concerns for EUR/USD longs

  • US January ISM non-mfg PMI due Monday, job component will be focused on

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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