9 Jan 2015
EUR/USD steady around 1.1800, NFP in focus
FXStreet (Córdoba) - EUR/USD is going through a consolidation phase on Friday, trading in a slim range above 1.18 as investors remain sidelined ahead of the so-awaited US nonfarm payrolls report.
Analysts expect job creation tops 200K for eleventh month in a row. Consensus calls for a 240K gain in December, down from the 321K jobs added in November.
EUR/USD enjoys the usual limited trading ranges heading into the employment report, with a slight dollar negative bias. Having spent most of the day within 1.1780-1.1820, the pair is currently trading at 1.1814, up 0.20% on the day.
EUR/USD short-term perspective
“For today, market expectations are of a 240K jobs added in December in the US, and of unemployment rate ticking lower to 5.7%. Readings in line or above expected, should keep the dollar on the winning side, and drive the EUR/USD back to its multiyear low of 1.1753 posted earlier this week, with a break below exposing the 1.1700 price zone”, said Valeria Bednarik, chief analyst at FXStreet. “A disappointing number on the other hand may see the pair advancing towards the 1.1860 price zone, and even up to 1.1900, where selling interest is expected to resume”.
Analysts expect job creation tops 200K for eleventh month in a row. Consensus calls for a 240K gain in December, down from the 321K jobs added in November.
EUR/USD enjoys the usual limited trading ranges heading into the employment report, with a slight dollar negative bias. Having spent most of the day within 1.1780-1.1820, the pair is currently trading at 1.1814, up 0.20% on the day.
EUR/USD short-term perspective
“For today, market expectations are of a 240K jobs added in December in the US, and of unemployment rate ticking lower to 5.7%. Readings in line or above expected, should keep the dollar on the winning side, and drive the EUR/USD back to its multiyear low of 1.1753 posted earlier this week, with a break below exposing the 1.1700 price zone”, said Valeria Bednarik, chief analyst at FXStreet. “A disappointing number on the other hand may see the pair advancing towards the 1.1860 price zone, and even up to 1.1900, where selling interest is expected to resume”.