USD holding on to post-NFP gains - TD Securities

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Łódź) - The TD Securities FX Research Team note that EUR/USD is trading with a bit of a heavy tone on Friday, following yesterday's strong US employment data and the ECB meeting.



Key quotes

"However, EUR/USD downward move seemed at odds with Mr. Draghi's remark yesterday that, although EUR strength remains an important factor for price stability, it is "'no longer increasingly
important'."



"It appears that EUR/USD at 1.36 is much less of a concern for the ECB, now that the US economy has sent the strongest signal thus far that it is poised to regain momentum after the Q1 slump."



"Perhaps the ECB is more confident now that better US data will prompt a repricing of the Fed's first hike, leading the USD to do most of the legwork to prevent EUR's appreciation and support Eurozone exports and inflation."



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