XE Market Analysis: North America – Aug 10, 2020

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The dollar has traded moderately firmer, seeing fresh rebound highs in the case against the euro. EUR-USD carved out a six-day low at 1.1753, extending the correction from the 27-month high that was pegged last Thursday at 1.1917. Friday’s above-forecast U.S. jobs report lifted the dollar, although weighing on Wall Street on the view that it may reduce the urgency for further stimulus, along with concerns about U.S.-China tensions. Congress remains in a stalemate over the next fiscal package, while President Trump issued executive orders to extend pandemic-era unemployment benefits.