Feb 10, 2026 — FX Market Update
The EUR/USD is steady at $1.19 ahead of US economic reports, as the dollar softens against major currencies. Meanwhile, the pound also maintains early-week gains. Traders are cautiously positioning themselves ahead of key U.S. data that could trigger volatility in foreign exchange markets.
Euro Stability Driven by Dollar Weakness
The euro held in the $1.19–$1.1910 range after Monday’s 0.9% jump. Analysts note that the EUR/USD steady at $1.19 ahead of US jobs and CPI reports reflects a dollar retreat rather than strong euro momentum.
At the same time, GBP/USD remains near $1.3670 despite ongoing political uncertainty in the UK, showing that traders are prioritizing macroeconomic data over political developments.
Focus on Delayed U.S. Jobs Report
All eyes are on Wednesday’s delayed U.S. Bureau of Labor Statistics jobs report, postponed due to the partial government shutdown. Last week’s ADP data revealed only 22,000 private jobs added in January, well below expectations.
The official jobs report is projected at 55,000 new positions, a modest number that could still move FX markets if it surprises. Analysts warn that the EUR/USD steady at $1.19 ahead of US data could quickly shift depending on the outcome.
CPI Report Could Drive Dollar Direction
Friday’s U.S. Consumer Price Index (CPI) release is another major market driver. Inflation data helps traders anticipate the Federal Reserve’s next steps:
- Weaker inflation or low job growth could keep the dollar under pressure, supporting the EUR/USD steady at $1.19 ahead of US macro releases.
- Stronger figures could strengthen the dollar and push EUR/USD downward.
Market Outlook
For now, both bulls and bears are exercising caution. The EUR/USD steady at $1.19 ahead of US economic reports reflects a market waiting on data-driven catalysts rather than taking directional bets. Traders are advised to monitor both the jobs report and CPI closely, as these releases are likely to dictate short-term currency movements.
