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Euro holds near 1.1500 as traders brace for US labor data

Forecasts point to a potential drop in June JOLTS job openings, a setup that could shape expectations for the Federal Reserve ahead of Friday’s Nonfarm Payrolls.

Reported · Written up by our desk · Major Pairs

The euro edged higher against the US dollar, keeping its gains near the 1.1500 area after a reversal from three-week highs around 1.1560, according to FXStreet.

FXStreet also pointed to mixed signals around US and Iran, with the market balancing mild risk appetite against cautious positioning ahead of a busy stretch of US labor releases, including JOLTS Job Openings and Factory Orders.

With Nonfarm Payrolls due on Friday, FXStreet noted TD Securities expects June JOLTS job openings to fall back to 7,000k from 7,594k in May, arguing the prior surge may be unsustainable.

Rabobank added that uncertainty around how higher energy prices could affect Eurozone growth and inflation may keep EUR/USD trading choppily, mostly within the 1.14 to 1.15 range.

Latest closeEUR/USD 1.151 ▼0.1%

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