This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
USD Data On Watch
The US dollar has seen much quieter trading over the last 24 hours as traders await the final key data of the week: the US employment reports due later today. While USD has continued to trade lower into the end of the week, downside momentum has reduced. The USD index trades 97.38 last. Looking ahead to today’s data, the NFPs are forecast at 181k while average hourly earnings are forecast to increase to 0.3% from 0.2% prior. The unemployment rate is forecast to remain unchanged at 3.6%.
EURUSD upside has stalled today in light of the pause in the USD sell-off. With no tier-one EUR data due today, flows are likely to remain tied to the outcome of US data later today. Earlier in the week, new ECB chief Lagarde reaffirmed market expectations that the ECB will continue Draghi’s accommodative monetary policy approach. EURUSD trades 1.1102 last.
UK Elections Continue To Drive GBP
GBPUSD has softened a little over the European morning on Friday retracing from the ...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.