EUR/USD today: the euro remains under the pressure

On Thursday and in the first half of Friday, the EUR/USD pair remains to be traded with a decrease on the data that the US Fed is not going to lower interest rates. Against the backdrop of waiting for a jobs report  in the US, which will be released today, and the continued optimism on the American dollar, there is a continued decline in this pair.

Events for today:

• At 15:30 – the US employment report will be released: average hourly earnings (compared to the same period last year) (y/y) (April), goods trade balance (March), nonfarm payrolls (April ), participation rate (April), the private nonfarm payrolls (April) and the unemployment rate (April).
• At 16:45 – Markit will release a composite business activity index (PMI) (April) and a business services index (PMI) in the US services sector (Apr)
• At 17:00 – ISM index of business activity in the non-manufacturing sector (PMI) (April) USA will be announced.

The day today is very full of statistics on the United States, but the market  focuse will be on the results of employment in the United States, which will set the mood in the market.

Prior to the release of an employment data in the US, a modest decline in the EUR/USD pair to support levels: 1.1140 and 1.1120 is expected, resistance is located at the levels: 1.1160 and 1.1180. Further dynamics of this pair and the US dollar as a whole will depend on the state of the US labor market. More significant resistance levels are located at the levels: 1.1200 and 1.1230, supports: 1.1120, 1.1100 and 1.1080.

Read also: “Gold – expectations for March 2019!”

Hanzenko Anton

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