EUR/USD Gathers Profit Under 0.9800 Before United States NFP

Share On Facebook
share on Linkedin
Print

EUR/USD picks up Momentum and moves towards 0.9800 during the early hours of today. Also, the United States Jobs for October will probably influence the pair when it is published later today. This report is likely to aid the US dollar against its counterpart Which will then drive the pair before the weekend begins.

A very steep rise was witnessed in the ERU/GBP pair yesterday (Thursday). This showed that the EUR is gaining some upside momentum coming from capital flow from the GBP area. The BOE  revealed that the highest interest rate might be lower than 5.2% weighed into the market. Investors see this remarks as a sign of less violent tightening. position.

euronote

Additionally Stories Surrounding EUR/USD Performance
The ECB (European Central Bank) president – Christine Lagarde, disclosed yesterday that policy actions ought to be taken by them as inflation stays elevated. Additionally, she included that they have to pay attention to carryovers from the Fed’s policy and factor in the exchange rate in their inflation projections. At the same time, the United States Dollar keeps losing momentum today (Friday) as the market mood improves.

The United States Bureau of Statistics will publish last month’s (October) job statement later today. Also, the Nonfarm payrolls are predicted to increase by 200,000 after September’s increase of 263,000. Yesterday the Employment index part of the ISM’s service PMI survey arrived at 49.1, which indicates a  contracting service sector. The USD will probably find it difficult to draw offers if the NFP data isn’t published. Consequently, this will make way for more upside moves in the EUR/USD pair.

Learn from market wizards: Books to take your trading to the next level

Click Here to register for free on Investors Hub

This area of the investorshub.advfn.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of Investors Hub. Investors Hub does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at Investors Hub is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by investorshub.advfn.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.

Comments are closed

 


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

Log in to InvestorsHub
Register Now