- The dollar gains moment before key US data, but with weekly losses.
- EUR / USD corrects lower from highs in almost a month.
- US employment data at 12:30 GMT could generate a lot of volatility.
The EUR / USD reached 1.1883 in the Asian session, the highest level since August 4, and then lost steam. In the last hours, the euro fell back erasing the gains of the day and fell to 1.1865. The pair expects the employment data with a bearish intraday tone, but still with firm upward momentum.
Eyes on US employment data
At 12:30 GMT, the US employment report will be released. The market consensus is for an increase in non-farm payrolls of 750,000, which would imply a decrease from the previous month, but an optimistic figure. The unemployment rate would have gone from 5.4% to 5.2% according to preliminary estimates.
These figures are expected to have a high impact on financial markets. In the preview of the data, asset prices are shown with a certain calm, and most of the routes in ranges. Wall Street futures are up slightly, as are Treasury yields.
For the moment, the fall of the EUR / USD that is being registered would imply the end of a streak of five consecutive days with advances. On the upside, the next major barrier facing the euro is the area of ​​1.1900 / 05, where they are the maximums of August and just below those of July. To extend the rally, the pair will have to break this important barrier. If not, a correction would be expected, with relevant support at the 1.1840 / 45 area.
Technical levels
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