EUR/USD Clings to Gains Above 1.0970 Ahead of Payrolls

Friday, 4 October 2019 16:09 WIB



The up beat tone around the shared currency remains well and sound for yet another session, with EUR/USD sticking to the positive ground above the 1.0970 level.

The pair is advancing for the fourth consecutive session so far on Friday, always on the back of the deteriorated outlook around the Greenback, particularly exacerbated following poor results from the ISM manufacturing and non-manufacturing.

The recent disappointing readings from the US docket have resurfaced the fears of a deeper slowdown in the US economy and forced US yields to quickly correct lower to fresh multi-week lows.

There are no scheduled publications in Euroland today other than the speech by ECB’s De Guindos in Seville. Across the pond, the most salient event will be the release of the monthly labour report, where the economy is expected to have added 145K jobs during September and the unemployment rate to have remained unchanged at 3.7.

Source : FX Street


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