EUR/USD Gathers Profit Under 0.9800 Before United States NFP

Share On Facebook
share on Linkedin

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.

© Ibrahim Boran on Unsplash

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.


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 ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the 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 ADVFN Plc. ADVFN Plc 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 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 ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

Do you want to write for our Newspaper? Get in touch:

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20230208 04:05:39