EURUSD set to move back lower toward 0.95.

EURUSD trades in positive territory early Friday and continues to edge higher toward 0.98. However, economists at ING expect the pair to return to the 0.95 level.NFP report should continue to put pressure on EURUSD

“EURUSD remains primarily a function of Dollar moves, and today’s US payrolls release should continue to put pressure on the pair.”“Having now moved back to the trading ranges seen before the late-October correction (which has proven exceptionally short-lived), we think markets have switched back to a more structurally bearish tone on EURUSD, and a return to 0.9500 is our base case in the near term.”

EURUSD consolidates gains below 0.9800 ahead of Lagarde, US NFP

EURUSD is consolidating the recovery gains below 0.9800 in early Europe. Upbeat sentiment contributes to the typical pre-NFP trading amid the US Dollar repositioning. Firmer yields and hawkish Fed keep bears hopeful. Lagarde’s speech eyed as well. 

EUR/USD News 

GBPUSD clings to recovery gains above 1.1200, US NFP in focus

GBPUSD is holding onto the recovery gains above 1.1200 as risk flows return early Friday, triggering a corrective downside in the US Dollar. The Fed-BoE policy contrast continues to limit the pair’s rebound, as the focus shifts to the US NFP report. 

GBPUSD News 

Gold climbs above $1,640 amid USD correction, US NFP eyed

Gold price is extending the rebound towards $1,650, as the US Dollar Index corrects after failing to cross 113.00. The market mood remains buoyed while Treasury yields trade higher ahead of the US NFP data.

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