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EUR/USD holding a tight range ahead of the European opening
Yesterday afternoon, as the US markets joined the fray the EUR/USD fell back to a session low at 1.0724. The rebound that followed into 4pm London fix saw it rise to a high at 1.0782, which was reached right around that fixing time. The surprise rise in the number of US jobless claims was the catalyst for that rebound, but significantly the Euro did not threaten the 1.08 handle again and it has not done that so far today either. The EUR/USD closed in the US last night 1.0782. The point to make about that US claims number, is that one poor week does not yet define a trend and cannot be taken as the start of a sustained rise. That said it does endorse the latest, weaker monthly jobs numbers seen last week. That said, the EUR/USD has yet to reclaim the 1.08 handle again and that is rather disappointing if you are a fan of the Euro. The range seen so far today has been tight (1.0773-1.0786). The EUR/USD is currently trading at 1.0776
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