EUR/USD loses grip on 1.0900 on Tuesday after risk aversion reignites. Fed rate cut hopes have been pushed back to November. ECB rate cut, US NFP Friday loom darkly ahead. US data failed to deliver signs of a steepening economic slowdown in the US, sending broad-market hopes for signs of Federal Reserve rate cuts back to the bottom and sparking a fresh bout of risk-off safe haven bidding.
If Friday’s NFP print, expected to show the US added 190K net new jobs in May, higher than the previous month’s 175K. EUR/USD technical outlook EUR/USD fell back from 1.0900 on Tuesday, slipping back into near-term congestion after a fresh break into the pair’s highest bids since March. The Fiber has ground sideways in a large consolidation range for most of the year, and the pair remains down from 2024’s opening bids near 1.1037.