The price has been facing strong resistance at $1,111.50 since yesterday’s US session. Trading support finds at $1,106.00, $1,102.00 and $1,100.00
Ahead of US jobs data the euro is hovering above the bulls last hope support finds at 1.0790.
US economic events: Focus on NFP and unemployment rate
Nonfarm payrolls: The last four NFP were printed below expectations. After the September NFP numbers, the Fed funds rate hike factor dropped to 41%. The recent Fed statements again raise the December hike hope to 51%.The unemployment rate remained at 5.1%.
The October job additions expect to be 182K compared to September’s 142K. The October’s unemployment rate likely to be unchanged at 5.1% some analysts expects 5.0%.
In case, if October’s NFP data meets the expectations the December hike factors refresh the steam and the greenback likely to crush the major and counterparts currencies.