Forex (SPOT)Premium

EURUSD: Intraday Analysis & Forecast update

The euro could extend its gains against the U.S. dollar if U.S. payrolls data, due at 1230 GMT, show a rise of below 200,000, Francesco Pesole, FX strategist at ING, says in a note. “We think a print below 200k [which is the forecast in The Wall Street Journal’s poll of analysts] should put pressure on the dollar,” he says. This would add to recent signs that the U.S. jobs market is softening, leaving the Federal Reserve “in a comfortable position to start cutting [interest rates] in the summer,” he says. A sub-200k U.S. payrolls print should pave the way for the euro to rise back towards the 100-day moving average around $1.0875, he says.

 

✅  Register or Login.

Related posts

EUR/USD: Daily & Intraday Updates

A.B.

GBP/AUD: Weekly Analysis & 2024 Forecast

A.B.

EURUSD: Analysis & Setup update

A.B.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More