EUR/USD stabilized near 1.0550 on Friday after posting gains for two consecutive days. The pair could continue to stretch higher ahead of the weekend
EUR/USD went into a consolidation phase near 1.0550 following a two-day rebound. Nonfarm Payrolls in the US are forecast to rise 170,000 in September. 1.0570 aligns as the next resistance for the pair. in case the September jobs report from the US confirm loosening conditions in the labor market. The US Dollar struggled to find demand on Thursday as the benchmark 10-year US Treasury bond yield continued to correct lower.
For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR /JPY . Later in the day, the US Bureau of Labor Statistics will release the September jobs report. Nonfarm Payrolls in the US are forecast to rise 170,000 in September, following the 187,000 increase recorded in August. A reading below 150,000 could attract dovish Fed bets and cause US yields to push lower.
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