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Not only Nonfarm Payrolls but the US President Donald Trump’s announcement on EU terms will also entertain global market players on Friday.

Bloomberg relies on the people familiar with the plans while saying that the US President Donald Trump will formally announce a deal to open up the European Union to more beef exports after the bloc carved out quotas from other nations earlier this year.

It was further mentioned that in the news report that the US Trade Representative Robert Lighthizer and the European ambassador to the United States on Friday will sign an agreement to increase the amount of American beef that can be sold in the EU market, the people said, speaking on condition of anonymity ahead of the announcement Friday.

FX implication

The news can exert additional pressure on the EUR/USD pair that is already reflecting the market’s “wait and watch” mode ahead of the key US employment data.