- The EUR/USD quotes laterally around 1,1440 while investors expect US NFP data for May.
- The decrease in commercial concerns between the US and China has supported the US dollar.
- The ECB reduced its key interest rates at 25 basic points on Thursday.
The EUR/USD pair is quoted in a limited range around 1,1440 during Friday’s Asian negotiation hours. The main currency pair is consolidated while investors expect the data of Non -Agricultural payroll (NFP) of the United States (USA) for May, which will be published at 12:30 GMT.
Investors will pay close attention to official US employment data as they will influence market expectations about the monetary policy of the Federal Reserve (FED). According to estimates, the US economy added 130,000 new workers, below the 171,000 hired in April. The unemployment rate is expected to remain stable at 4.2%.
Before the US employment data, the US dollar (USD) rises after maintaining the recovery movement on Thursday afternoon. The US dollar index (DXY), which measures the value of the dollar against six main currencies, advances around 98.80.
The USD index bounced on Thursday after comments from the president of the US, Donald Trump, in a publication in Truth. They would suggest a decalsed in commercial tensions between Washington and Beijing. “The call lasted about an hour and a half, and resulted in a very positive conclusion for both countries,” Trump wrote. The stable commercial relations scenario between the US and China is favorable for the US dollar, since Beijing is a key exporter for the USA.
Meanwhile, the euro (EUR) runs below what is expected on all fronts, while the comments of the officials of the European Central Bank (ECB) suggest that the monetary expansion cycle has concluded for now. The head of the ECB policy and governor of the Bank of Estonia, Madis Muller, declared during the first hours of European negotiation that he feels comfortable with the comments of President Christine Lagarde, who indicated that “the cycle of flexibility of politics is almost finished.”
Euro price today
The lower table shows the percentage of euro change (EUR) compared to the main currencies today. Euro was the weakest currency against the New Zealand dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.11% | 0.05% | 0.30% | -0.08% | 0.17% | -0.12% | 0.17% | |
| EUR | -0.11% | -0.05% | 0.16% | -0.18% | 0.00% | -0.22% | 0.06% | |
| GBP | -0.05% | 0.05% | 0.21% | -0.12% | 0.06% | -0.16% | 0.11% | |
| JPY | -0.30% | -0.16% | -0.21% | -0.32% | -0.02% | -0.30% | -0.20% | |
| CAD | 0.08% | 0.18% | 0.12% | 0.32% | 0.24% | -0.04% | 0.22% | |
| Aud | -0.17% | -0.00% | -0.06% | 0.02% | -0.24% | -0.22% | 0.08% | |
| NZD | 0.12% | 0.22% | 0.16% | 0.30% | 0.04% | 0.22% | 0.28% | |
| CHF | -0.17% | -0.06% | -0.11% | 0.20% | -0.22% | -0.08% | -0.28% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the euro of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the EUR (base)/USD (quotation).
Christine Lagarde’s comments were produced at the press conference after the announcement of monetary policy in which the ECB reduced the rate of deposition in 25 basic points (BPS) at 2%, as expected. This was the seventh consecutive reduction of interest rates by the ECB and the eighth since June last year, when the monetary expansion cycle began.
Economic indicator
Non -agricultural payrolls
The most important result contained in the report on the employment situation is the monthly change in non -agricultural payrolls published by the US Department of Labor. The report publishes the employment creation estimates of the previous month and reviews in the data of the previous two months. Monthly changes in payrolls can be very volatile and the publication of this report generates high volatility in the dollar. A result superior to the market consensus is bullish for the dollar, while a result lower than expectations is bassist.
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Fountain:
US Bureau of Labor Statistics
The United States Monthly Employment Report is considered the most important economic indicator for foreign exchange operators. Published the first Friday following the informed month, the change in the number of employees is closely related to the general performance of the economy and is monitored by those responsible for the formulation of policies. Full employment is one of the mandates of the Federal Reserve and considers the evolution of the labor market by establishing its policies, which affects the currencies. Despite several advanced indicators that shape estimates, non -agricultural payrolls tend to surprise markets and trigger substantial volatility. The real figures that exceed consensus tend to be bulls for the USD.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
