EUR/USD

Consensus growth forecasts for 2023 have been steadily revised higher in the US, UK, and Euro area. The unexpected resilience of consumer spending is a part of this optimism. While consumer spending growth may be slowing, it is not collapsing. Three broad factors support consumers. Labor markets provide two forms of support. Unemployment rates remain ...

EURUSD started June with a 100-pip rally after a volatile end to May. Given the selloff we saw last month, a retracement in early June was to be expected, although I did think a 1.0600 retest might come first. So what should we watch ahead of Friday’s non-farm payroll (NFP)? The first level I’m watching is 1.0760, as the euro didn’t give us a convincing ...