{"id":77820,"date":"2015-09-04T06:31:44","date_gmt":"2015-09-04T10:31:44","guid":{"rendered":"http:\/\/countingpips.com\/?p=77820"},"modified":"2015-09-04T08:00:40","modified_gmt":"2015-09-04T12:00:40","slug":"euro-continues-to-drop-ahead-of-august-employment-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/09\/euro-continues-to-drop-ahead-of-august-employment-data\/","title":{"rendered":"Euro Continues to Drop Ahead of August Employment Data"},"content":{"rendered":"
September 4, 2015<\/div>
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Article by ForexTime<\/a><\/p>\n

EUR\/USD has settled in the mid-1.11s after basing at 1.1087 following yesterday\u2019s post-ECB dive. The ECB\u2019s pledge of more stimulus if needed, coupled with downward revisions to both growth and inflation projections, should keep the EUR\/USD on the defensive. Market attention is now fully focused on today\u2019s U.S. August payrolls report, which will be decisive in shaping Fed policy expectations into the mid-Sep FOMC.<\/p>\n

Forecasts for Friday\u2019s employment number average approximately a 220K increase in nonfarm payrolls, similar to the July gain. The unemployment rate is likely to dip to 5.2% from 5.3%. Average hourly earnings should rise 0.3% after edging up 0.2% in July. Such figures should be good enough for the Fed to pull the tightening trigger. An employment report of this stature could have potential to shift EUR\/USD down another leg. The wild card will remain, however, the dovish nature of Yellen and other core Committee members, and their worries over market instability.<\/p>\n

The EUR\/USD slipped below the 20-day moving average at 1.12 which was former support now resistance.\u00a0 Momentum has turned negative with the MACD (moving average convergence divergence) index recently generating a sell signal.\u00a0 This occurs as the spread (the 12-day moving average minus the 26-day moving average) crosses below the 9-day moving average of the spread.<\/p>\n

\"eur-090415\"<\/a><\/p>\n

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\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>\n

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Article by ForexTime EUR\/USD has settled in the mid-1.11s after basing at 1.1087 following yesterday\u2019s post-ECB dive. The ECB\u2019s pledge of more stimulus if needed, coupled with downward revisions to both growth and inflation projections, should keep the EUR\/USD on the defensive. Market attention is now fully focused on today\u2019s U.S. August payrolls report, which […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-77820","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=77820"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77820\/revisions"}],"predecessor-version":[{"id":77826,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77820\/revisions\/77826"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=77820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=77820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=77820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}