The dollar is waiting for statistics on employment
05.06.2015
The main currency pair is trading at low volumes in anticipation of the May publication of labour market statistics in the United States.
During the first week of June, the euro strengthening against the dollar is quite noticeable - more than 2%. Greece remains in the field of view of investors, but concerns about the debt payments are put on the backburner. Athens has exactly one month to show a sensible work plan for the creditors and to talk about the scheme of repayment.
Today, trading in the EUR/USD pair is very quiet. A little later, data on the US labour market in May this year will come out. Since there is no direct connection with the performance ADP (private sector employment) and NPF (employment outside the agricultural sector) we are waiting for statistics in the framework of the average forecast. A weekly report on the number of claims for unemployment benefits was published in May as neutral. This gives hope for a stable publication.
All the attention of the market is focused on this data and the level of unemployment. First, the market will react to the NFP, and only then - on everything else.
The expected trading range for the euro/dollar on Friday evening is 1.1185-1.1265.
RoboForex Analytical Department
During the first week of June, the euro strengthening against the dollar is quite noticeable - more than 2%. Greece remains in the field of view of investors, but concerns about the debt payments are put on the backburner. Athens has exactly one month to show a sensible work plan for the creditors and to talk about the scheme of repayment.
Today, trading in the EUR/USD pair is very quiet. A little later, data on the US labour market in May this year will come out. Since there is no direct connection with the performance ADP (private sector employment) and NPF (employment outside the agricultural sector) we are waiting for statistics in the framework of the average forecast. A weekly report on the number of claims for unemployment benefits was published in May as neutral. This gives hope for a stable publication.
All the attention of the market is focused on this data and the level of unemployment. First, the market will react to the NFP, and only then - on everything else.
The expected trading range for the euro/dollar on Friday evening is 1.1185-1.1265.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.