USD and EUR currency pair: close attention to NFP
The euro made the first step on the way to recovery. it is supported by the third week of trading gas with an opportunistic bias. This is happening on the background of certain extravagance signs from US dollar, as the latter doesn’t react that much on trade unrest and furious Fed.
The EU currency rebound was powered by reliable data received from Germany. Besides, both industrial production and orders appeared somewhat better than said in a forecast. It partially mitigated worries on the euro area economical state. Newly received ambitions news from the ECB have also done their job for the bullish pressure.
For the moment the market is concentrated on the employment report of the United States to be announced. The published data has serious chance to warm up the interest of investors purchasing US dollars – of course, only in case of positive report summary. If it happens, it will work as another confirmation that the US labor market is still viable and strong. Thus, the EUR/USD pair had a chance to keep to its corrective rebound from 1.15 lows of the current year, in case the figures disappoint. if this happens, there is an opportunity for the currency pair to reach 1.1720 or even 1.1750 to fix profit for some investors.