9 days ago • Posted by Paul de La Baume

Euro sinks on strong US jobs data! #EURUSD #USD #EUR #Trading #Forex #NFP

Nonfarm payrolls in July by must since February 2022 and June NFP were revised up more than 100'000, in a sign the US economy is stronger than expected. In the details, labor force participation continued to lag overall, a worrying sign. The strong data sent the dollar and Treasury yields up and in turn, sank the euro. The EURUSD fell 0.65%. Technically, the pair has some support around 1.0150. CPI data on Wednesday next week will be important to gauge the state of inflation in the US, to see if the Fed's hands are tied to keep rising rates aggressively. 

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