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EUR/USD eyes 200-DMA

FXStreet (Mumbai) - The EUR/USD pair is once again heading towards its 200-DMA located at 1.1166 levels after the bulls failed to take out 1.12 levels in the Thursday’s NY session and today’s Asian session.

Focus on European stocks ahead of US NFP

The common currency is likely to take cues from the sentiment in the European stock markets ahead of the payrolls release. The major European equities erased early gains on Thursday to end the day with losses. At the moment, the major equity futures in Europe are pointing to a weak opening.

Ahead in the day, the US non-farm payrolls report is widely expected to show the economy added 203K jobs in December. The number could affect the December rate hike bets, which currently stand at 36.2%.

EUR/USD Technical Levels

At 1.1175, the spot is within a touching distance from its 50-DMA and 200-DMa located at 1.1172 and 1.1166 level. A break below the same could expose 1.11 handle. On the other side, resistance is seen at 1.1209 (previous day’s high) and 1.1236 (38.2% of Mar-Aug rally).

China: Closing its capital account - Rabobank

Michael Every, Research Analyst at Rabobank, notes that there is significant news that China is closing its capital account further by limiting annual cross border payments using Union Pay cards to just CNY50,000 (USD7,854) per person until the end of the year, and a maximum of CNY100,000 for the whole of 2016. That is on top of the daily limit of CNY10,000 already in place.
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US nonfarm payrolls likely to surge by 219K – TDS

Annette Beacher, Chief Asia-Pac Macro Strategist at TD Securities, suggest that the US Nonfarm payrolls are likely to post a growth of +219k in September which is above market consensus of +201k (range +149k to +256k) due to a solid improvement in the Conference Board labour market differential, a rebound in the Chicago PMI employment subcomponent, and an improving trend in initial jobless claims.
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