Instrument: EURUSD
Bullish Preference:
A Buy position is envisaged if the price trades above 1.08630 with take profit at 1.08767
Bearish Preference:
A Sell position is envisaged if the price trades below 1.08424 with take profit at 1.08320
Fundamentals:
USD
1:30 PM
Average Hourly Earnings m/m
Non-Farm Employment Change
Unemployment Rate
3:00PM ISM Manufacturing PMI
Comment:
The euro sold off on Thursday after markets chose to pay close attention to the more encouraging core inflation print for the Euro area, as opposed to the slight move higher on headline readings. Core inflation printed at 5.3%, in line with expectations but represents a move lower from last month’s 5.5% print. The U.S. dollar edged lower in early European trade Friday, on course to end a six-week winning streak ahead of the release of the highly-anticipated monthly U.S. jobs report.
Analysis: SCRUM Team