EUR/USD rises up to touch the highs of the day in the 1.0970s on Friday after the release of US Nonfarm Payrolls shows disinflationary wage data and a suprise rise in the Unemployment Rate in February.
The EUR/USD rebounds after edging lower after comments from ECB officials put the possibility of an early interest-rate cut in April back on the table.
EUR/USD rebounds after Nonfarm Payrolls
The EUR/USD awoke from its slumber and shot up on Friday after the release of US Nonfarm payrolls showed an unforeseen fall in Average Hourly Earnings and rise in the Unemployment Rate, that suggest the Federal Reserve (Fed) may begin cutting rates earlier than previously expected.
According to the Bank for International Settlement (BIS), which compiles statistics in cooperation with world central banks to inform analysis of global liquidity, among other things, the US Dollar and the Euro are the two most traded currencies in the world. And EUR/USD is the most traded pair. It is important to note that the BIS is a good resource to gauge the size of the $6.6 trillion global interbank market, but that non-institutional, or retail and/or individual investors, do not engage in trading directly in the interbank market. Instead retail investors engage in trading with a Registered Foreign Exchange Dealer, which acts as a counterparty to all of its customers’ trades.
EUR/USD TRADING BASICS:
The US Dollar (USD) is the world’s dominant currency and the Euro (EUR) is the second most-traded.
As a result, business in EUR/USD accounts for almost a quarter of trading in global foreign exchange markets according to the BIS triennial report, which covers institutional trading.
EUR/USD is a highly liquid pair.
The EUR/USD rebounds after edging lower after comments from ECB officials put the possibility of an early interest-rate cut in April back on the table.
EUR/USD rebounds after Nonfarm Payrolls
The EUR/USD awoke from its slumber and shot up on Friday after the release of US Nonfarm payrolls showed an unforeseen fall in Average Hourly Earnings and rise in the Unemployment Rate, that suggest the Federal Reserve (Fed) may begin cutting rates earlier than previously expected.
According to the Bank for International Settlement (BIS), which compiles statistics in cooperation with world central banks to inform analysis of global liquidity, among other things, the US Dollar and the Euro are the two most traded currencies in the world. And EUR/USD is the most traded pair. It is important to note that the BIS is a good resource to gauge the size of the $6.6 trillion global interbank market, but that non-institutional, or retail and/or individual investors, do not engage in trading directly in the interbank market. Instead retail investors engage in trading with a Registered Foreign Exchange Dealer, which acts as a counterparty to all of its customers’ trades.
EUR/USD TRADING BASICS:
The US Dollar (USD) is the world’s dominant currency and the Euro (EUR) is the second most-traded.
As a result, business in EUR/USD accounts for almost a quarter of trading in global foreign exchange markets according to the BIS triennial report, which covers institutional trading.
EUR/USD is a highly liquid pair.
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