Get updated on the 5 January EURUSD Fundamental Analysis as attention shifts on Friday to the most anticipated report of the month: US nonfarm payrolls.
5 January, OctaFX– After an active first week of 2018, attention shifts on Friday to the most anticipated report of the month: US nonfarm payrolls. The December release is expected to confirm what we already know about the labor market – that it is expanding firmly.
Market participants can expect a steady stream of economic data to be released in advance of the official US report. Action begins at 07:00 GMT with a report on German retail sales. Receipts at German retail stores are forecast to rise 1% month-on-month and 2.5% annually.
Reports on French consumer confidence and Italian retail sales will make their way through the market over the next two hours.
By 10:00 GMT, the European Commission’s statistical agency will report the December consumer price index (CPI). Annual inflation in the 19-member euro area is forecast to drop to 1.4% from 1.5% previously. So-called core inflation is projected to pick up to 1% from 0.9% in November.
5 January EURUSD Fundamental Analysis
The euro returned to strength on Thursday, with prices approaching the 1.2100 US handle. The uptrend peaked at 1.2086, and a clean break above this level is needed to confirm a bigger uptrend.
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