EUR/USD comes under pressure after new tops near 1.0550, looks at US NFP – by pabspiovano EURUSD NFP Currencies Majors
Germany’s trade surplus widened to €6.9B in October.The European currency now comes under some mild pressure and motivatesEUR/USD alternates gains with losses ahead of US data
The daily improvement in the pair is also accompanied by another decline in the German 10-year bund yields, this time breaking below the 1.80% level, an area last seen back in early October.Moving forward, the release of the US Nonfarm Payrolls for the month of November will take centre stage seconded by the Unemployment Rate . In addition, Chicago Fed C.Evans is also due to speak.EUR/USD manages to extend the rally to the vicinity of 1.
: Continuation of the ECB hiking cycle vs. increasing recession risks. Impact of the war in Ukraine and the persistent energy crunch on the region’s growth prospects and inflationSo far, the pair is losing 0.05% at 1.0520 and a breach of 1.0365 would target 1.0330 en route to 1.0222 . On the upside, there is an initial hurdle at 1.0548 ahead of 1.0614 and finally 1.0773 .
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