The US dollar turned sharply lower after the recent, weaker-than-expected US Jobs Report, boosting EUR/USD back above 1.0800. A lack of meaningful EU data next week will leave the Euro exposed.
A lack of any notable EU data releases or events next week will leave the Euro vulnerable to moves in other currencies. In the UK the Bank of England will announce its latest policy decision on Thursday 10th at 12:00 UK with all policy dials expected to be left untouched. There may be a shift in voting patterns with more members voting for aThis week, EUR/GBP has pulled back some of its recent losses and broken back above the 20- and 50-day simple moving averages.
Retail trader datashows 47.54% of traders are net-long with the ratio of traders short to long at 1.10 to 1.The number of traders net-long is 9.02% lower than yesterday and 5.35% lower than last week, while the number of traders net-short is 18.22% higher than yesterday and 17.35% higher than last week.
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