Expectations of a final interest-rate hike by the US Federal Reserve (Fed) this quarter were reinforced after US job openings unexpectedly rose by the
US Nonfarm Payrolls are set to rise by 170K in September, down from the 187K reported in July. US Dollar braces for a volatility spike on headline NFP and Average Hourly Earnings data. The Unemployment Rate in the United States is seen modestly lower at 3.7% in September. most in over two years to 9.610 million in August. The JOLTS Job Openings data pointed to a persistently tight labor market in the United States that could provide the Fed some leeway for more tightening.
In such a case, EUR/USD could stage a solid recovery toward 1.0650. Dhwani Mehta, Asian Session Lead Analyst at FXStreet, offers a brief technical outlook for the EUR/USD pair and explains: “The main currency pair has moved away from multi-month troughs but the bearish potential remains intact, as the 14-day Relative Strength Index continues to hover below the midline. Failure to find acceptance above the 1.0600 round level on its road to recovery will trigger a fresh downswing toward the 1.
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