EUR/USD: Euro Steady Near $1.19 as FX Traders Brace for Delayed US Jobs Data

Euro Holds Its Ground Near $1.19

The EURUSD hovered calmly in the $1.19–$1.1910 zone Tuesday after Monday’s 0.9% pop, driven less by euro strength and more by a softer dollar. Sometimes FX moves forward simply because the greenback steps back.
The broader dollar retreat also lifted sterling, with the

GBPUSD holding near $1.3670 after a strong Monday, despite political noise in the UK that traders mostly chose to ignore.
In classic FX fashion, calm prices suggest positioning ahead of bigger catalysts rather than conviction.
Jobs Data Delay Keeps Traders Frozen

Attention now turns to Wednesday’s delayed US jobs report from the Bureau of Labor Statistics, postponed by the partial government shutdown. Delays like this matter because FX traders price uncertainty faster than facts.
Last week’s ADP print showed just 22,000 private jobs added in January, well below expectations and already denting confidence in US labor momentum.
Consensus now looks for around 55,000 jobs, a modest number that could still move markets sharply if it surprises.

CPI and the Dollar’s Next Test

Friday brings the delayed US CPI inflation report, another key piece in the dollar puzzle. Inflation data helps traders anticipate when the Fed might cut rates, which directly impacts currency valuations.
Lower inflation or weaker jobs would likely keep pressure on the dollar and support the euro-dollar above $1.19. Stronger data could flip the script quickly.
Until then, bulls and bears are mostly waiting with fingers hovering over both the Buy and the Sell button.