EUR/USD portrays pre-NFP anxiety around 1.0750 despite upbeat options market signals

EUR/USD remains sidelined near 1.0750, after rising the most in a fortnight while bouncing off a two-week low.

In doing so, the major currency pair repeats the typical pre-NFP trading behavior amid a lack of major data/events. Also increasing the importance of Friday’s economic calendar is the US ISM Services PMI for May.

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That said, one-month risk reversal (RR) for the EUR/USD, a gauge of calls to puts, rises the most in three days, by the end of Thursday’s North American trading session, per the latest options market data on Reuters.

The daily RR figures for June 02 jumped to +0.035 while snapping the previous two-day downtrend. However, the weekly figures print a bearish bias with a -0.175 level after rising for the two consecutive weeks the last.

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