EUR/USD around 1.1040 post-Payrolls, focus on Powell now
FXStreet News

EUR/USD around 1.1040 post-Payrolls, focus on Powell now

  • EUR/USD keeps the daily range around 1.1040.
  • US Non-farm Payrolls came in at 130K in August.
  • Fed’s J.Powell speak later in Zurich on US economy, monpol.

The shared currency keeps the familiar range vs. the Greenback at the end of the week, with  EUR/USD  gyrating around the 1.1030/40 band in the wake of the US labour market report.

EUR/USD neutral  on Payrolls, waits for Powell

Spot stayed apathetic on Friday after the US economy created 130K jobs during last month, missing  forecasts at 158K and down from July’s 159K (revised from 164K).

Further data showed the jobless rate stayed put at 3.7% and the critical Average Hourly Earnings – a proxy for inflation via wages – expanded 0.4% MoM and 3.2% over the last twelve months.

EUR/USD levels to watch

At the moment, the pair is losing 0.05% at 1.1029 and a breach of 1.0925 (2019 low Sep.3) would target 1.0839 (monthly low May 11 2017) en route to 1.0569 (monthly low Apr.10 2017). On the flip side, the next barrier emerges at 1.1084 (high Sep.5) followed by 1.1163 (high Aug.26) and finally 1.1172 (55-day SMA).

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.