US NFP Looms as EUR/USD Trades Near 1.0800 Amid Elevated Middle East Risks

Markets now focus on today's US Nonfarm Payrolls amid persistent geopolitical tensions in the Middle East that continue to support safe-haven flows. The euro had strengthened earlier after eurozone May flash CPI surprised higher at 3.2% y/y with core at 2.5%, fully pricing a June ECB hike and pushing EUR/USD briefly above 1.16. Hawkish ECB signals and rising oil prices reinforced expectations for further tightening, but recent positioning and risk aversion have since pulled the pair back toward 1.0800 ahead of the key US jobs data.