EUR/USD Dips Despite Weak US Jobs Data Amid European Economic Strength

The EUR/USD currency pair declined by 0.06% to 1.1535 on August 7, 2026, despite weaker-than-expected US jobs data.

The July 2026 nonfarm payrolls contracted by a surprise 23,000 jobs, which typically would weaken the dollar and boost EUR/USD.

However, this was tempered by strong German factory orders, rising 3.1% month-on-month in June 2026, signaling robust momentum in the manufacturing sector.

Additionally, Eurozone inflation remained steady, aligning with the European Central Bank's (ECB) decision to leave interest rates unchanged at its July meeting.