Before the U.S. jobs report was announced, the euro moved sideways without clear direction from the Tokyo market through to the European market.
The U.S. jobs data was stronger than expected, which made the U.S. dollar go up against many currencies. The euro, which was around 1.1800 dollars, dropped to 1.1718. But 30 minutes later, it went back up to around 1.1790 — a quick drop and rebound.
After that, U.S. long-term interest rates went up, so the euro fell again to around 1.1750 by the end of the day. Some people expected investors to sell the euro because it was at a high level, but instead, the euro stayed strong, showing solid support.
Also, U.S. Treasury Secretary Bessent again asked the Federal Reserve to cut interest rates, and the Trump tax cut bill was passed. These events increased concerns about U.S. government debt, which made some investors sell dollars. This helped support the euro.
Today, the New York market is closed, so price movements may happen with a delay. But overall, the euro is expected to stay firm.
Expected EUR/USD range: 1.1710 to 1.1800 (50% chance)
Note: This information does not guarantee profits. Please make your own decisions when trading.