EUR/USD today: the market is waiting for the US employment data
On Thursday, the EUR/USD pair closed the day with an increase on the general weakness of the dollar, which was caused by the risks of trading opposition and weak US data. The published weak preliminary data on the number of people employed in the nonfarm sector of the USA put the pressure on the American dollar and increased the pessimism about the upcoming US employment report, which will be released today.
Events for today:
- 15:30 – an employment report in the United States: the average hourly earnings (m/m) (November), nonfarm payrolls (November), private nonfarm payrolls (November) and the unemployment rate (November) .
- 20:00 – number of Baker Hughes oil rigs in the United States.
The main event of the day and week will be the publication of the US Employment Report (NFP), expectations for which remain very restrained. Therefore, the US currency may feel restrained pressure before the US data will be released.
The EUR/USD pair is trading at the opening of the day level, limited to correction after yesterday’s growth and the expectation of restrained data for the US. Before the release of the US data, movement in the corridor from 1.1380-1.1400 to 1.1360-40 is expected. Further dynamics of the American dollar will directly depend on the US employment report. Significant resistance levels are: 1.1400-20 and 1.1450, support levels are: 1.1350 and 1.1320-00.
Hanzenko Anton
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