EUR/USD Edges Higher on Weak Jobs Data Ahead of CPI Report

The EUR/USD pair edged higher to 1.1555 on August 10, buoyed by weak US nonfarm payrolls data that reduced the likelihood of further Federal Reserve rate hikes.

The euro found support from encouraging Eurozone economic data and improved investor sentiment.

However, the US dollar remains underpinned by higher Treasury yields and an interest rate advantage.

Market participants now await the US Consumer Price Index (CPI) release on August 12, which could decisively influence the pair's near-term trajectory.