Choppy price action on the EUR/USD currency pair has been the norm during the New York morning hours following the release of the previous nine US non-farm payroll reports, and today was no exception. The euro basically played ping-pong in a roughly 60-pip range after the latest NFP report showed higher than expected growth in US jobs last month. The real euro mover today? A downgrade by Fitch of both Italy and Spain announced minutes after noon ET.
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Curt Wehrley
FX Bootcamp's Quantitative Analyst
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Good analysis Curt, as always.
erdaky 5 months ago