EUR/USD hinges on US Payrolls – Danske Bank

By FXstreet.com | July 03, 2014 AAA

FXStreet (Edinburgh) - Today’s US Non farm Payrolls would be crucial for the EUR’s price action in the short term, commented Anders Fischer, Analyst at Danske Bank.



Key Quotes



EUR/USD dropped yesterday following the better-than-expected ADP private employment report and the US labour market report will be decisive for the direction in EUR/USD today”.



“Yesterday’s strong ADP report indeed suggests some upside to the non-farm payroll data. However, remember that the ADP report does not always track non-farm payrolls very well”.



“In respect of the ECB meeting, we do not expect that the press conference will provide us with new signals of policy changes this time, as the ECB took a significant easing step in June”.



“Hence, most likely not much new information and thus we expect the meeting to have little effect on market pricing”.



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD recovering from Asian lows
    Forex News

    GBP/USD recovering from Asian lows

  2. USD/JPY mellow on the back of USD sell-off
    Forex News

    USD/JPY mellow on the back of USD sell-off

  3. Dollar Cheered in Press, But Data and Fed Chatter Turning
    Forex News

    Dollar Cheered in Press, But Data and Fed Chatter Turning

  4. EUR/USD Downside Targets Favored Ahead of ECB on Slowing Inflation
    Forex News

    EUR/USD Downside Targets Favored Ahead of ECB on Slowing Inflation

  5. US Dollar Technical Analysis: Is a Pullback in the Cards?
    Forex News

    US Dollar Technical Analysis: Is a Pullback in the Cards?

Trading Center