EUR/USD is trading at 1.1318 with a high of 1.1486 and a low of 1.1312.
EUR/USD has bottomed out and ended the week approximately 30 pips up from the start but down on the day having lost its footing on the back of the Nonfarm Payrolls results that came in beating expectations and had the doves think again in respect to timings of a rate hike from the Fed. The pair had been trading above 1.15 on the week but territory there has been left for dust for the second time in February.
257k new jobs were created in January, beating expectations, and in a month that has historically disappointed the consensus. Analysts at Brown Brothers Harriman explained that the pendulum of expectations is pushing back toward our view of a mid-year rate hike. "We would subjectively attribute about an 80% chance, with the remaining 20% in September. The Fed delayed the tapering by a couple of months from when it had appeared to signal it. We could expect the forward guidance at the March FOMC meeting to shift, and the "patience" diluted to something more data-centric."
EUR/USD has bottomed out and ended the week approximately 30 pips up from the start but down on the day having lost its footing on the back of the Nonfarm Payrolls results that came in beating expectations and had the doves think again in respect to timings of a rate hike from the Fed. The pair had been trading above 1.15 on the week but territory there has been left for dust for the second time in February.
257k new jobs were created in January, beating expectations, and in a month that has historically disappointed the consensus. Analysts at Brown Brothers Harriman explained that the pendulum of expectations is pushing back toward our view of a mid-year rate hike. "We would subjectively attribute about an 80% chance, with the remaining 20% in September. The Fed delayed the tapering by a couple of months from when it had appeared to signal it. We could expect the forward guidance at the March FOMC meeting to shift, and the "patience" diluted to something more data-centric."
