EURUSD Slips Despite Weak US Jobs Report Amid Hawkish Fed Tone

The EURUSD currency pair experienced a modest decline on August 7, 2026, moving from 1.1542 to 1.1535.

This came despite a weaker-than-expected US jobs report that typically pressures the dollar lower.

Strong German factory orders and steady Eurozone inflation provided some support for the euro, but concerns about European heatwaves and supply chain disruptions, combined with a hawkish Federal Reserve stance, capped euro gains.

Federal Reserve Governor Lisa Cook's hawkish comments on August 6 emphasized readiness to hike rates if inflation remains stubborn, likely tempering enthusiasm for a quick Fed pivot.