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Oct 06 - 08:55 PM

EUR/USD - Opens Lower On Hawkish Fed-Speak Ahead Of US Jobs

By John Noonan  —  Oct 06 - 06:45 PM
  • EUR/USD fell 0.89% after US yields and USD rose on hawkish Fed comments nL1N31723T

  • It is testing the 10-day MA @ 0.9783 and clear break would increase pressure

  • Market is pricing in a strong US payroll report that would cement hawkish Fed expectations nL1N31723M

  • Renewed worries over Europe energy supplies and state of UK finances supporting USD as well

  • Only a weaker than expected US jobs report would support EUR/USD

  • Price action after US payrolls will likely be volatile

  • Key support at double-bottom formed at 0.9525/35

  • Key resistance is at a trend-line from Feb 10, which comes in at 1.0044

  • For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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