EUR/USD rebounds after failing to hold gains above 1.0900 into the weekend

The reaction in the dollar to the rather timid data saw it weaken. However, it did not stay down for long and as the USD/JPY lifted back above 152 and towards 153 again, the EUR/USD had nowhere to hide. Earlier in the afternoon the Euro had topped the 1.0900 handle, but the slide into the US close saw it fall from a higher at 1.0905, to a low at 1.0832 and it closed right on that low too, at 1.0834. It seems both the ISM and the Jobs data may have been unduly impacted by the recent Hurricanes, or at least there seemed to be an element of that in the market thinking on Friday. So, technically speaking that close was not positive, but of course with the US election tomorrow, so it is probably wise not to necessarily place too much emphasis on that. In essence, the outcome of that election will surely decide where the dollar heads to immediately from here on this week. Overnight the Euro has rebounded and traded back above 1.09 again in a move that perhaps endorses exactly what was said here just now. The range seen since the Asian opening has been covered by 1.0845 to 1.0905. It is currently trading at 1.0892