EUR/USD May Struggle if Dovish ECB Talks Numb Data Reactions

The Euro spent most of this past week aiming lower from the previous one. Taking a look at a majors-based EUR index on the chart below, the currency remains higher than where it was at the beginning of April. Having said that, the Euro has been largely consolidating over the past month. Its performance has been closely tied to spreads between German and United States 10-year government bond yields. There may have been an overreaction from markets to the April US non-farm payrolls report. A significant miss in job gains and unemployment data dented the US Dollar and Treasury yields. However, the markets seemed to then … (full story)

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