The United States (US) will release the May Nonfarm Payrolls (NFP) report on Friday at 12:30 GMT.
US Nonfarm Payrolls are foreseen at 185K in May, data hints at a miss. The United States Employment report could impact the Fed eral Reserve’s decision next week. The US Dollar heads into the event with a weak tone, still lacking directional momentum. The United States will release the May Nonfarm Payrolls report on Friday at 12:30 GMT. Ahead of the event, the country released multiple employment-related figures that anticipate a soft NFP headline figure.
What seems clear is that interest in buying the US Dollar is quite limited. From a technical point of view, the pair needs to clear the 1.0910 region to extend gains, with an intermediate resistance at around 1.0950 ahead of the 1.1000 price zone. A bearish movement seems more difficult, giving the downside seems more messy, without a clear breakout point until 1.0790. Below the latter, the pair could slide towards 1.
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