FX.co ★ Technical Analysis of EUR/USD for December 8, 2023

EUR Displays Resilience Pre-NFP-Payrolls Release

The Non-farm Payrolls report, a pivotal market mover, gauges monthly employment in the USA, excluding certain sectors. A higher-than-expected figure is USD positive, while a lower figure is USD negative.

Key Highlights:

1. ADP Report Insights: Private payrolls rose by 103,000 in November, slightly below estimates. Notably, the leisure and hospitality industry lost 7,000 jobs, while services-related industries gained. Goods producers experienced a net loss of 14,000 jobs.
2. Anticipation for NFP Release: The NFP report, releasing on Friday, December 8th, at 13:30 PM GMT, holds significant expectations. October's NFP consensus of 297,000 fell short at 150,000. November's forecast is 185,000, with expected Average Hourly Earnings (MoM) of 0.3% and an Unemployment Rate of 3.9%.

EUR/USD: Navigating Market Dynamics - Technical Analysis

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