EUR/USD slides as upbeat US labor market data fuels US Dollar rally

On Friday, the US Bureau of Labor Statistics (BLS) revealed that the economy added more jobs than expected. Nonfarm Payrolls for March rose by 303K, crushing estimates and previous readings of 200K and 270K. Further data showed the Unemployment Rate ticking lower from 3.9% to 3.8%, while Average Hourly Earnings were aligned to the consensus.

After the data, the Greenback strengthens as the US Dollar Index (DXY) rises 0.155%, up at 04.36. US Treasury bond yields are climbing between 4.5 and 5 basis points. The US 10-year Treasury note rate is at 4.365%.

Elsewhere, the Richmond Fed President Thomas Barkin commented the rpoert was quite strong, adding that the reduction in inflation has been uneven. Earlier. Fed’s Boston Susan Collins made comments but not on monetary policy.

Across the pond, Factory Orders in Germany improved in February, to 0.2%, improving from January’s -1.4% plunge. Moreover, Retail Sales from the Eurozone (EU) dived -0.5% MoM, worse than the estimated -0.4% contraction.

Given those factors, the EUR/USD retreated below the 200-day moving average (DMA). Traders' focus shifts to next week's data, with the release of US inflation data and consumer sentiment. On the EU’s front, the European Central Bank (ECB) will feature its monetary policy meeting, which will be the highlight of the week.