US Nonfarm Payrolls are set to increase by 140K in September, similar to August’s gain of 142K. The United States labor data will be published by the Bureau of Labor Statistics on Friday at 12:30 GMT. The US jobs data could have a significant impact on the direction of the Fed interest rates and thus the US Dollar’s valuation. The high-impact Nonfarm Payrolls data from the United States for September will be published by the Bureau of Labor Statistics on Friday at 12:30 GMT.
Dhwani Mehta, Analyst at FXStreet, offers a brief technical outlook for EUR/USD: “The EUR/USD pair has breached the critical 50-day Simple Moving Average at 1.1044 amid the renewed downtrend. The 14-day Relative Strength Index points south well below the 50 level, currently near 44, suggesting that sellers are likely to retain the upper hand in the near future.” “On a daily candlestick closing below the 50-day SMA at 1.1044, sellers will flex their muscles toward the 100-day SMA support at 1.