Global macro overview for 06/11/2015:
The Non-Farm Payrolls data are scheduled for release at 1:30pm GMT today. The market expected a nice gain of 181k jobs this month vs. 141k gain last month. The US employment component had been the firmest pillar on the U.S. economic recovery situation, but after the summer the optimistic expectations of the financial market participants about how much jobs can be made had stumbled over the real data. Nevertheless, the recent US job market data are gathering a pace again and the convergence of a hawkish Fed that has marked December as a possibility and a strong NFP could result in the arrival of the much-awaited interest rate hike.
The EUR/USD pair is trading just above the important daily support at the level of 1.0805. The resistance is seen at the level of 1.0897.