EUR/USD: Three positive developments ahead of dreadful NFP

The mood is relatively upbeat ahead of a devastating US jobs report, but EUR/USD still found reasons to rise, according to FXStreet’s analyst Yohay Elam.

Key quotes

“The prospect of investors paying the government to take their money – seen previously in Europe – has now come to haunt the dollar. The Fed officials have rejected such a move, but speculation remains rife.”

“Top negotiations from the world's largest economies held a video conference to take stock of the trade deal, and its implementation. The high-level event calms tensions that had previously supported boosted the greenback.”

“Christine Lagarde said that she and her colleagues will do whatever is necessary, defying the ruling of the German constitutional court. Her unequivocal commitment has been supporting the euro.

“It seems that markets are ready for catastrophic Nonfarm payrolls news, allowing the safe-haven dollar to edge lower. However, extremely horrible numbers could boost the greenback and send stocks down.”