EUR/USD & EUR/GBP Rally, EUR/JPY Unable to Keep Gains

The euro rallied against the US dollar with help of disappointing US non-farm payrolls. The currency also gained on the pound as data from Great Britain was not good either. Against the Japanese yen, the euro rallied intraday but gave away gains as of now.

Manufacturing data from Europe was somewhat disappointing, at least to euro bulls, as it missed analysts’ predictions. Yet it was not completely bad, just slightly worse than expected.

At the same time, the manufacturing report from the United States was much better than forecast. Yet it did not overcome the impact of employment data, which was also not bad but trailed economists’ estimates. This allowed the euro to outperform the dollar.

By the same token, poor data from the United Kingdom made the sterling weaker than the shared 18-nation currency.

EUR/USD jumped from 1.3389 to 1.3445 before trading at 1.3430 as of 17:32 GMT today. EUR/GBP surged from 0.7926 to 0.7976. Meanwhile, EUR/JPY climbed from 137.62 to 138.00 but retreated to the opening level later.

If you have any questions, comments or opinions regarding the Euro,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *