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EUR/USD spike above 1.04 on US jobs report proves short-lived
As the immediate reaction in the USD/JPY to the US jobs report proved to be the wrong course of action, we saw a similar, inverse move higher in the EUR/USD. The Euro jumped to 1.0409 in the melee, only to reverse that jump just as quickly, as the true implication and revisions to the payroll number kicked the dollar higher again. Hence, the EUR/USD has since reversed that move and almost as quickly hit a fresh session low, at 1.0350. The path from here on looks rather tricky to be honest. Certainly as far as the US jobs data is concerned, there is no reason to buy the Euro, but that is not always how it will play out. The EUR/USD is currently trading at 1.0368
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