EUR/USD extends Thursday gains, clears 1.0800 as markets jostle for position ahead of Friday's US NFP
- EUR/USD climbs on Thursday to retake the 1.0800 handle.
- Markets turned on the USD as investors step up bets of a rate cut early next year.
- The EUR/USD is up 0.33% on the day.
The EUR/USD is on the climb in Thursday trading, lifting into the 1.0800 handle as the Euro (EUR) gains a third of a percent against the US Dollar (USD).
Market bets of a rate cut from the Federal Reserve (Fed) are on the rise, pushing the US Dollar broadly lower, and the Greenback is now on pace to be the worst-performing currency of the FX majors bloc heading into Friday’s US Nonfarm Payrolls (NFP) print to close out the trading week.
Before Friday’s US NFP lands on markets, Germany’s Harmonized Index of Consumer Prices (HICP) is due early Friday. German HICP inflation is expected to hold steady at 2.3% for the year ending in November, in-line with October’s YoY print.
Up Next: German HICP inflation, US NFP slated for Friday
Friday will also bring US Average Hourly Earnings for November, with the MoM figure forecast to tick up slightly from 0.2% to 0.3%. Meanwhile, latest US NFP is forecast to show a net gain of 180K new jobs in November, versus October’s 150K net employment gain.
Friday’s trading action will close out with the University of Michigan’s Consumer Sentiment Index for December, which is expected to show that US consumers are seeing an improving outlook on the domestic economy. The UoM’s Consumer Sentiment Index is expected to tick up from 61.3 to 62.0.
Euro price today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.35% | -0.28% | -0.03% | -0.83% | -2.58% | -0.56% | -0.07% | |
| EUR | 0.33% | 0.02% | 0.31% | -0.48% | -2.23% | -0.21% | 0.27% | |
| GBP | 0.29% | -0.05% | 0.27% | -0.53% | -2.26% | -0.26% | 0.22% | |
| CAD | 0.03% | -0.31% | -0.26% | -0.80% | -2.55% | -0.53% | -0.04% | |
| AUD | 0.83% | 0.48% | 0.52% | 0.78% | -1.72% | 0.27% | 0.74% | |
| JPY | 2.51% | 2.19% | 2.22% | 2.47% | 1.69% | 1.98% | 2.44% | |
| NZD | 0.55% | 0.20% | 0.25% | 0.52% | -0.28% | -2.00% | 0.47% | |
| CHF | 0.06% | -0.28% | -0.24% | 0.03% | -0.77% | -2.51% | -0.50% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
EUR/USD Technical Levels
The EUR/USD’s Thursday climb sees the pair breaking through the 50-hour Simple Moving Average (SMA) after slipping below the short-term moving average last week, but gains remain limited with the 200-hour SMA above 1.08075 and drifting bearish, dropping through 1.0900.
Daily candlesticks have the EUR/USD getting snagged on the 200-day SMA as the pair gears up to snap a six-day losing streak.
Technical support is looking thin at the 50-day SMA near 1.0700, with the moving average lifting into a bullish stance after the EUR/USD bottomed out near 1.0450 back in October, and has been climbing ever since.
EUR/USD Hourly Chart
EUR/USD Daily Chart
EUR/USD Technical Levels