EUR / USD at new highs around 1.1580 / 85

Get real time updates directly on you device, subscribe now.

  • EUR / USD rose to daily highs near 1.1580 on Friday.
  • US nonfarm payrolls increased by 194,000 jobs in September.
  • The unemployment rate fell to 4.8%.

Buying interest around the single currency remains good and solid at the end of the week and is now rising to EUR/USD back to the 1.1580 zone following the US NFP report.

EUR / USD at new highs around 1.1580 / 85

EUR / USD remains positive on Friday after the US economy created 194,000 jobs in September, disappointing expectations of a 500,000 job gain. The August reading was revised to 366,000 (from 235,000).

Other data showed that the unemployment rate fell to 4.8% and critical average hourly earnings, an indicator of inflation through wages, rose 0.6% month-on-month and expanded 4.6% over the past twelve months. Another key indicator, the participation rate, dropped slightly to 61.6% (from 61.7%).

The upward movement in the pair comes in response to the falling dollar, dragging the US dollar index to fresh lows below 94.00 along with a pullback in US 10-year yields to the 1.56 region. %, about 4 basis points below the initial rally.

Technical levels

So far, the pair is up 0.24% at 1.1577 and faces the next ascending barrier at 1.1604 (10-day SMA) followed by 1.1640 (Oct. 4 weekly high) and finally 1.1677 (20-SMA). days). On the other hand, a break below 1.1529 (October 6, 2021 low) would target 1.1500 (round level) en route to 1.1495 (March 9, 2020 high).

.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.