EUR/USD gives up its Fed-induced advance and tumbles about 1%; U.S. dollar strength, Wall Street’s risk-off sentiment, concerns about the EU economy weigh on the common currency Fri U.S. nonfarm payroll results could guide near-term price action.
, dragged down by broad-based U.S. dollar strength, higher U.S. yields, risk-off sentiment in the equity market, and growing concerns about the outlook for the European Union after. At noon, EUR/USD was 1% lower, trading at 1.0510 and steadily approaching its May’s low.
possibly creating the right conditions for exchange rate parity between the two currencies, but that story is for another day., when the U.S. Bureau of Labor Statistics releases the latest nonfarm payrolls data. According to analysts surveyed by Bloomberg News, the North American economy created 391,000 jobs in April, down slightly from the 431,000-increase seen in March.matching the pre-pandemic low set in early 2020.
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