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Euro slips against dollar as US nonfarm payrolls near

The euro was around 1.1545 per dollar, while the US Dollar Index hovered near 99.73 ahead of Friday’s nonfarm payrolls forecast of 80K jobs.

Reported · Written up by our desk · Major Pairs

FXStreet said the euro edged lower against the US dollar during the European session on Friday, trading around 1.1545 as the dollar firmed.

At press time, the US Dollar Index was marginally higher near 99.73, still close to a two day low of 99.63.

Attention is focused on the US nonfarm payrolls report, which is expected to show 80K fresh jobs in July, with the unemployment rate steady at 4.2%. Average hourly earnings are forecast to rise 0.3% month over month and 3.5% year over year.

FXStreet also pointed to a cautious backdrop from prior ADP data, noting ADP reported private sector hiring of 44K for July, below both estimates of 70K and the prior 98K release. In FX technicals, EUR/USD was around 1.1540, holding above the 20 day EMA near 1.1470 and testing downtrend resistance around 1.1537.

Latest closeEUR/USD 1.156 ▲0.4%|Dollar index 99.69 ▼0.2%

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