- EUR / USD is still on track to close the sixth day in a row in positive territory.
- The US dollar index stabilizes above 92.00 in the American session.
- The August jobs report showed a smaller than expected increase in NFPs.
The pair EUR/USD It jumped to its highest since late June at 1.1909 on Friday after the dollar came under heavy selling pressure during US trading hours. However, the pair was down before the weekend and was last seen posting small daily gains at 1.1885. On a weekly basis, the pair is up almost 0.7%.
The USD selloff continues after the US jobs report.
Data released by the US Bureau of Labor Statistics on Friday showed US nonfarm payrolls increased by 235,000 in August. This figure disappointed analysts’ estimate of 750,000 by a wide margin as the USD weakened against its rivals.
The US Dollar Index (DXY) fell to a monthly low of 91.95 and allowed the EUR / USD to soar higher.
However, an observed increase of more than 3% in the benchmark 10-year US Treasury yield helped the USD limit its losses and the DXY is currently losing 0.1% on the day at 92.10. .
Commenting on the US jobs report, “Disappointing, but not a disaster, the non-farm payroll figures for August have been very disappointing, but are mostly related to the Delta Covid variant,” FXStreet analyst said. , Yohay Elam. “That will pass. Meanwhile, the data is good news for stocks, temporarily good news for the dollar.”
Technical levels
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