EUR/USD back above 1.0800 this morning as US jobs report looms

Yesterday the EUR/USD did immediately shrug off the 0.25% rate cut from the ECB. Of course this was an entirely expected move and as pointed out likely not to deliver any notable downside for the Euro. Well, that was the case, as the EUR/USD lifted to a new 2025 subsequent to that ECB move. The Euro reached 1.0853 just ahead of the 4pm London fix. However, it was not able to hold all the gain and did later fall back to 1.0766 ahead of the US close. The EUR/USD closed in the US last night at 1.0785. That was surely more about profit-taking than anything else and of course we have an important US data release later today which could define the price action into the weekend. That is the US monthly jobs report and there will be plenty to add on that as the morning unfolds. Meantime, the EUR/USD has pressed a little higher in Asian trading today, currently at 1.0809