Jobs Data Could Spark Larger Reaction in Euro vs Dollar

Dow Jones
Aug 07

0750 GMT - The euro-dollar exchange rate has showed a bigger reaction to recent U.S. nonfarm payrolls data and could be particularly sensitive to Friday's release, ING's Francesco Pesole says in a note. In the past year, the euro has moved on average of 0.2% in the hour after a payrolls report, he says. "The past two prints both saw moves of 0.4%, though, positive in July and negative in June." Data-related volatility in the foreign exchange market has increased under Federal Reserve Chair Kevin Warsh, he says. Warsh's ambiguity over future policy at the July meeting means the market's sensitivity to the jobs data at 1230 GMT could be even larger, he says. The euro trades flat at $1.1520.

 

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10