- Nonfarm payrolls rose by 431,000 in March, below the 490,000 expected.
- The dollar rises after data, at a moderate pace.
- EUR/USD remains sideways, with a bearish bias.
The EUR/USD fell to 1.1035 after the US March jobs report as the dollar rose against G10 currencies. Although payrolls rose less than expected, the details were encouraging.
The US economy added 431,000 jobs in March, below the market consensus of 490,000. Figures for February were revised up and the unemployment rate fell more than expected to 3.6%, the lowest level since 2020.
The greenback appreciated modestly in the market, pushing EUR/USD to new daily lows. Then the pair had a bounce but this is losing strength before the opening of Wall Street.
The bias is negative on the EUR/USD, and remains close to the minimum. If we lose 1.1030, the next support is seen at 1.1000. To the upside, a recovery above 1.1070 would be a sign of more upside ahead for the euro.
Figures for the US manufacturing sector will be released later on Friday with the Markit PMI report and the ISM. Earlier on Friday, a jump in inflation was reported in the Eurozone.
Technical levels
Source: Fx Street
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