EURUSD Fundamental Analysis


The global financial markets converge on US nonfarm payrolls on Friday. How will this release affect EURUSD movements? Let’s find out with this 6 October EURUSD Fundamental Analysis from OctaFX.

6 October, OctaFX – The monthly report is expected to show a dismal pace of hiring for the world’s largest economy after a pair of devastating hurricanes ripped through the southern states of Texas and Florida.

European markets open with a report on German factory orders, which is due at 06:00 GMT. Orders are projected to climb 0.7% in August after falling 0.7% the month before. Compared to August 2017, factory orders likely rose 4.7%, forecasts show.

6 October EURUSD Fundamental Analysis

The euro reversed course on Thursday and is now trading below 1.17 US. The EUR/USD has been on a sharp downtrend for the past two weeks, as the dollar rebounded against a basket of world peers. Weakness below 1.1725 puts the pair on track for a re-test of the 1.1675 region. On the opposite side of the ledger, the immediate resistance zone is likely found around 1.1800.

6 October EURUSD Fundamental Analysis

Disclaimer

This article about 6 October EURUSD Fundamental Analysis should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

    Share Your Opinion, Write a Comment