Happy Monday! Today's $EURUSD Forex Signal: Bullish Breakout Nears a Key Hurdle
The Bureau of Labor Statistics confirmed that the American labor market was easing on Friday. Its report revealed that the economy added over 209k jobs in July, lower than the median estimate of 230k.
The jobs report had some bright spots as the unemployment rate dropped from 3.6% to 3.5% while wages continued rising. Therefore, there is a likelihood that the Federal Reserve will continue hiking interest rates in the coming months. Data from CME shows that analysts have a 93% chance of a rate hike this month.
Still, traders will be focusing on core inflation, which has remained stubbornly higher for a while. Estimates are that the headline CPI fell to 5.0% in June. A lower report than estimates will reduce the Fed’s pressure to continue hiking rates later this year.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Price Analysis: Bulls await a breakout through two-month-old descending trend-lineEUR/USD Price Analysis: Bulls await a breakout through two-month-old descending trend-line – by hareshmenghani EURUSD Fed Bonds Technical Analysis Currencies
Read more »
EUR/USD sits at weekly highs above 1.0950 amid a quiet start to a big weekEUR/USD is holding steady above 1.0950, sitting near eight-day highs of 1.0975 set on Friday. The pair is consolidating last week’s gains, in what see
Read more »
EUR/USD: Next target emerges at 1.1010 – UOBUOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang suggest the next level to watch for EUR/USD is now at 1.1010 in the near term.
Read more »
Bitcoin price gathers strength as SOL, AVAX, FIL and EOS prep for a breakoutBitcoin’s bounce off the 20-day EMA indicates strength and that may prove to be positive for select altcoins such as SOL, AVAX, FIL and EOS.
Read more »
XRP Bullish Run Might Be Triggered by This MoveXRP charting a bullish course, here's what can fuel this rally
Read more »
Sports bettors 'are very pro-Bears,' bullish on Fields' MVP odds ahead of 2023 seasonThe Bears appear to be one of the darling teams in the eyes of sports bettors. Since the odds opened on Super Bowl LVIII, the Bears have gone from 100-1 to 50-1 to win the Super Bowl. According to Adam Pullen, Caesars Sportsbook assistant director of trading, bettors saw a lot of value in the Bears early on.
Read more »