Day’s news (GMT 3):
- 12:30 UK: Markit manufacturing PMI (Oct).
- 15:30 US: nonfarm payrolls (Oct), average hourly earnings (Oct).
- 16:45 US: Markit manufacturing PMI (Oct).
- 17:00 US: ISM manufacturing PMI (Oct).
Yesterday’s expectations were met in full. The pair hit fresh highs before dropping to 1.1132.
At the time of writing, the euro is trading at 1.1160. All eyes are now on the US jobs market. Projections show 89k new jobs created outside the agricultural sector, and unemployment rising to 3.6%.
In the Asian session, the EURUSD is rising slightly. The pair usually trades within a narrow range ahead of such important news. We expect the pair to drop to 1.1150 ahead of the payrolls report. What happens after the report is too unpredictable, so the forecast on the chart only goes as far as 15:30 (GMT 3).