EUR/USD today: the market is waiting for the US jobs report
The EUR/USD pair closed lower on Thursday due to comments by the head of the Central Bank of Germany, who spoke about slowing growth in the German economy. As a result, this pair accelerated the correction against the growth on Wednesday. On Friday trades, the market and the EUR/USD pair remains quite restrained, despite the decline in the pound and positive inflation data in the eurozone.
Events for today:
- 15:30 – jobs report in the United States will be published: the unemployment rate, nonfarm payrolls, participation rate, average hourly earnings m/m, government nonfarm payrolls and private nonfarm payrolls.
- 16:45 – Markit USA will release the purchasing managers index in the manufacturing sector.
- 17:00 – the index of purchasing managers in the manufacturing sector from ISM USA will be announced.
The main event of the day remains the US Employment Report (NFP), so market will be restrained while waiting for it.
From the EUR/USD pair, one should have expected a moderate growth on the return to the uptrend upon breaking through the resistance of 1.1470. As the market expects the US employment data, the pair’s upward trend will be limited. Prior to the release of employment statistics, one should expect movement in the trading range from 1.1470-60 to 1.1420-30. Further directions will be set by the US employment data. Significant resistance levels are: 1.1500, 1.1530-50 and 1.1570, support: 1.1440-50, 1.1410-00 and 1.1370.
Read also: “Japan’s Tankan Business Index”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Fractals. Another simple indicator for earnings!
- The World Forum: Davos 2019. Globalization is under threat!
- Long-term investment in currency pairs! The USD/DKK pair!
Current Investment ideas: