Euro slips before non-farm payrolls

The euro is in the red versus the US dollar ahead of the non-farm payrolls report at 1.30pm (London time).

The euro is hovering above the $1.37 mark, and is extending its losses from yesterday when even the mention of quantitative easing by Mario Draghi drove the currency lower. It has not been a good week for the euro following the lowest inflation rate since 2009, with declining growth and worse than expected levels in the services purchasing managers index contributing to the downward move.

The consensus is for an increase of 200,000 new jobs to be added to the payrolls. The Federal Reserve has already tapered its stimulus package twice in the past six months and there have been suggestions of rate increase in 2015. This has pushed the US dollar higher in recent trading sessions.

If the non-farm payroll report exceeds the 200,000 estimate, the euro could move towards the 200-day moving average of $1.3598. If the report is softer than expected it could head towards the longer/medium-term target of $1.38 mark that Alastair McCaig previously mentioned.


This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.