XE Market Analysis: Europe – May 10, 2021

The dollar has managed to find a toehold after plunging on Friday on the massive U.S. jobs report disappointment. Economists were blindsided by the data, focused too much on burgeoning demand while taking their eye off the gaping pandemic-era supply side anomaly in the labour market: that is, the difficulty businesses are having in recruiting workers, with millions who normally work in low paid service sector jobs finding their incomes are better on unemployment benefits than working in their previous jobs.