Euro/Dollar Gains Momentum – Overview for July 10, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSD_17-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="EUR/USD analysis today" decoding="async" loading="lazy" style="margin-bottom: 15px;" /></div><p>The Euro/Dollar <a href="https://blog.roboforex.com/blog/2020/06/19/how-to-choose-a-currency-pair-for-trading-in-forex/" data-internallinksmanager029f6b8e52c="142" title="Currency Pair">currency pair</a> has demonstrated an upward <a title="<div class="wpg-tooltip-content"><p>A trend is a direction in which the market or the price of an instrument is moving. Trends can be upward, downward or sideways and are common to all types of markets.</p></div>" href="https://blog.roboforex.com/glossary-terms/trend/">trend</a>, bolstered by encouraging data from the United States.</p>
<p>Continuing its positive trajectory, the most actively traded currency pair remains in favorable territory on Monday, with the current <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR/USD</a> quote standing at 1.0960.</p>
<p>Friday's release of employment market statistics in the US left the US dollar lacking support. Investors were taken aback, as the robust figures they anticipated in the labor sector were expected to provide the Federal Reserve with a compelling case for tightening its policies. However, the <a href="https://blog.roboforex.com/blog/2019/11/28/signals-on-forex-where-to-search-how-to-find-filter-and-create/" data-internallinksmanager029f6b8e52c="101" title="Signals">signals</a> turned out to be mixed.</p>
<p>The US unemployment rate for June remained stagnant at 3.6%, matching the previous figure. Non-farm payrolls only saw an increase of 209,000 jobs, falling short of the projected growth of 225,000 and the previous reading of 306,000. On a positive note, average wages rose by 4.4% year-on-year, surpassing the estimated 4.2% year-on-year increase.</p>
<p>Two crucial signals emerge from these statistics. Firstly, the vital Non-Farm Payrolls (<a href="https://blog.roboforex.com/blog/2019/10/15/trading-news-how-to-make-money-on-non-farm-payrolls/" data-internallinksmanager029f6b8e52c="88" title="Nonfarm Payrolls">NFP</a>) report is experiencing a slowdown in its growth rate. Secondly, the <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> component within the payroll report is gaining strength.</p>
<p>While it is likely that the Federal Reserve will raise interest rates at its July meeting, it will do so without relying heavily on employment data this time around.</p>
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