The EUR/USD has been in consolidation for the past few weeks, trading between support at ~1.0100 and resistance near ~1.0280. The euro’s fundamentals remain weak on a medium-term horizon. From a technical view, range-bound could end soon.
At the same time, there is another factor to keep in mind. If recession probabilities rise significantly in the coming weeks and months,. Generally speaking, in periods of economic uncertainty, the U.S. dollar tends to shine in the foreign exchange space against high-beta currencies to the extent that it trades as a, with the outperformance enhanced when equities and bonds sell off in parallel.
This could meanLooking ahead and focusing on the very near term, there is a major catalyst on Friday that could trigger exchange rate volatility: the. According to consensus expectations, U.S. employers created 250,000 jobs last month, after adding 372,000 workers in June. If the labor market remains healthy, we could see a bullish dollar reaction, but the magnitude of the move will depend on the strength of the data.
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