For less than $8 a month, InvestingPro's Fair Value tool helps you find which stocks to hold and which to dump at the click of a buttontraders are closely monitoring this week’s U.S. economic data as recession concerns grow. With the critical jobs report in focus, the direction of the pair hinges on how the data shapesreport showed a drop in job openings from 7.91 million to 7.67 million, hitting the lowest level since January 2021.
With market sentiment still highly sensitive to growth signals, tomorrow's employment data will play a critical role in guiding the next direction for the EUR/USD pair.EUR/USD hit a yearly high of 1.12 at the end of August, and the pair has since found support around 1.105 this week as critical economic data continues to roll in. Yesterday, demand for the euro lifted the pair back to 1.1075, signaling renewed strength.
On the other hand, strong employment data could ease recession concerns, shifting focus back to the Fed's anticipated 25-basis-point rate cut. In this scenario, EUR/USD might break below 1.1025, opening the door for a potential decline towards 1.09.This article is for information purposes only. It is not intended to encourage the purchase of assets in any way, nor does it constitute a solicitation, offer, recommendation or suggestion to invest.
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