EUR/USD finally takes out 1.0800 as European stocks open higher ahead of German jobs report

The European stock markets have just reopened and it has been a positive start for the markets here ahead of the Easter break. At the same time, the EUR/USD has now taken out that 1.0800 level, as indeed it should have. The DAX is backing away slightly though from above 18,500 and perhaps the lower Euro now is acting as a drag on any immediate gains? If that is the case, then it would tie in with the more usual dynamics and price connection between the Euro and the DAX. The risks of a deeper set back for the DAX do not just rest with the Euro though and given how far this index has come it is possible that a deeper correction might play out today, given where we are right now in the calendar. The reader is also reminded; that today is the last trading day of the month and the quarter. That is certainly something that is not being overlooked here. The DAX is just now trading at 18,480 ahead of the latest German unemployment data due for release at 8.55am GMT. Right now, both the Euro and the DAX might not react well to any abject weakness in that data