EUR/USD extends upward trend ahead of NFP data

Officials at the ECB alternately play down the prospect of future rate increases. On Thursday, the EUR/USD was moving higher, stretching for 1.0550 ahead of the end-of-week release of US non-farm payroll data. At the time of writing, the pair is trading at 1.0548.

As ECB policymakers continue to downplay the likelihood of a continuation of the rate hike cycle, the euro is only up 0.3% from Thursday’s opening bids of 1.0506.

Initial Jobless Claims came in at 207K from 205K on Thursday, beating the market’s projection of 210K while also showing a clear victory for the US dollar. US weekly first claims for unemployment increased to 207K from 210K predicted

The US NFP numbers due on Friday will be the only thing left for the week. The headline figure for September is expected to slightly decrease from 187K to 170K.