EUR/USD Slips Toward 1.1605 as NFP Crushes Expectations

EUR/USD comes under selling pressure on Friday as the US Dollar strengthens on the upbeat US employment report. At the time of writing, the pair trades around 1.1605, down roughly 0.18% on the day, after retreating from an intraday high of 1.1633. That is the Friday 4 September 2026 stamp. The morning EUR hold around 1.1625 stays the pre-print sibling.

Hot payrolls. Dollar and yields bid.

US Nonfarm Payrolls rose by 162K in August, comfortably beating expectations for a 56K increase on that page — the same print on our live NFP PRINT. Primary consensus consensus for the same Non-Farm slot was +55K; both consensus stamps are quoted separately and are not averaged. July’s reading was revised sharply higher to a gain of 21K from the previously reported 23K decline, while June payrolls were revised to 31K from 20K. The Unemployment Rate held steady at 4.1%, as expected.

The US Dollar strengthens following the employment report, while US Treasury yields also move higher across the curve. The Dollar Index trades around 99.20 after falling to a more-than-one-week low of 98.83 on Thursday. The benchmark 10-year Treasury yield retests 4.81%, its highest level since October 2023 on that page. Stronger employment figures revive expectations that the Fed could raise rates at its 15–16 September meeting — though next week’s CPI and PPI still matter before that decision.

ECB hike color may cap euro losses

On the euro side, weaker-than-expected Eurozone Retail Sales add some pressure — that miss is already live. Expectations that the ECB will raise rates at its 9–10 September meeting could limit the euro’s losses, as higher oil prices amid Middle East tensions keep inflation risks elevated on that page.

Informational only. Not trading advice, signals, or a guarantee of any market outcome.