FXstreet.com (Barcelona) - The profit taking after the European session rally to 1.2937 high on surprisingly improving retail sales in August turned into retracement of daily gains. The EUR/USD is edging slightly lower on the day at the moment, quoting just above the 1.2900 mark.
The market will use the ADP employment data in the US to get ready for the Nonfarm Payrolls due on Friday. “Consistent with our above-consensus call for payrolls on Friday, we are slightly above consensus on today’s ADP report, looking for it to fall from 201k to 150k, 10k better than expected”, wrote TD Securities strategist Marcin Budkiewicz.
“Yesterday’s repeated upside rejection at 1.2966, proves that this barrier is tough and the pair lacks momentum for push higher”, wrote Windsor Brokers analyst Slobodan Drvenica, confirming near-term range trading within 1.2800 and 1.2970.
The market will use the ADP employment data in the US to get ready for the Nonfarm Payrolls due on Friday. “Consistent with our above-consensus call for payrolls on Friday, we are slightly above consensus on today’s ADP report, looking for it to fall from 201k to 150k, 10k better than expected”, wrote TD Securities strategist Marcin Budkiewicz.
“Yesterday’s repeated upside rejection at 1.2966, proves that this barrier is tough and the pair lacks momentum for push higher”, wrote Windsor Brokers analyst Slobodan Drvenica, confirming near-term range trading within 1.2800 and 1.2970.
