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31 Jul 2015
EUR/USD regains 1.10, Payrolls eyed
FXStreet (Edinburgh) - Poor results from the US docket today has taken a toll on the greenback, boosting EUR/USD more than a big-figure to test the 1.1100 neighbourhood, or multi-day tops.
EUR/USD propped up by data, attention to NFP
The risk-on trade has kicked in early during the Asian session, along with a profit-taking mood around the dollar as investors have decided to cash up part of the recent strong gains. Adding to the upbeat sentiment, flash CPI in the euro area surpassed consensus for the current month, with Core CPI rising 0.9% YoY.
Later on during the US session, the disappointment from the key US Employment Cost Index (0.2% in Q2) weighed heavily on the dollar and boosted spot just beyond the 1.1100 mark, although the bull run lacked follow through, returning below the 1.1000 region afterwards.
Following today’s results, the upcoming Non-farm Payrolls has now grown in relevance, all in light of the recent FOMC meeting and the upbeat assessment of the labour market by the Committee. A print of +200K could surely add to the expectations of a Fed’s lift-off in September, while another miss could see December as a firmer candidate instead.
EUR/USD propped up by data, attention to NFP
The risk-on trade has kicked in early during the Asian session, along with a profit-taking mood around the dollar as investors have decided to cash up part of the recent strong gains. Adding to the upbeat sentiment, flash CPI in the euro area surpassed consensus for the current month, with Core CPI rising 0.9% YoY.
Later on during the US session, the disappointment from the key US Employment Cost Index (0.2% in Q2) weighed heavily on the dollar and boosted spot just beyond the 1.1100 mark, although the bull run lacked follow through, returning below the 1.1000 region afterwards.
Following today’s results, the upcoming Non-farm Payrolls has now grown in relevance, all in light of the recent FOMC meeting and the upbeat assessment of the labour market by the Committee. A print of +200K could surely add to the expectations of a Fed’s lift-off in September, while another miss could see December as a firmer candidate instead.