EURUSD rose by 0.9% against the US currency which has been suspended today after the release FOMC statement

EURUSD analysis- 5th April 2017

EURUSD Analysis: Fundamental & Technical

EURUSD rose by 0.9% continuing its earnings against the US currency which has been suspended today after the release FOMC statement. Euro is strongly supported as Emmanuel Macron is likely to win in the final round of French presidential election on next Sunday. This is after Macron beat Eurosceptic Marine Le Pen.

At 08:05 GMT, Euro is traded at $1.0975 from the opening rate $1.0982 after it hit a new high $1.0990 since 9 November and new low $1.0965.

In Asian markets Euro has recorded a new high of $1.0990 before the positions became stable within a narrow scope; especially after the opening of European market. With the absence of the most important economic data of Europe from world financial markets, investors monitor the latest survey in France about the presidential election two days before the decisive round. Investors are also waiting for the monthly employment data for the purpose of reassessing the any new hikes of US interest during the current year.

US Dollar Index has stabilized on Friday in European market within a limited range of positions which is close to the a record low in six months while investors turned away from building new positions searching for additional indications related to the US interest hike. These indications are provided through the US non-farm payrolls and statements of members of Federal Reserve; especially Chairman Janet Yellen.

By advent of 12:30 GMT, non-farm payrolls will be issued. Macroeconomics is expected to add 194 thousand new jobs within April from 98 thousand jobs in March. Unemployment rate is also expected to rise by 4.6% from 4.5% which is lowest rate since 2007. Per capita income average will be also issued and is expected to rise by 0.3% from 0.2% in March.

Stanley Fischer, Vice Chair of Federal Reserve, will speak at 15:30 GMT in a conference of monetary policy rules to be held in Hoover Institution, Stanford. Janet Yelln, Chairman of Federal Reserve, will speak at 17:30 GMT in Brown University. Simultaneously, Charles Evans will speak at the conference held in Hoover Institution.

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Mohammed Abdelkhalik

Mohammed Abdelkhalik

Professional Trader and Analyst at TradingBroker.co.uk
Professional Trader and Analyst, economist in Financial and Forex market  since 2004.holds an MBA from the American University in Egypt. Mohammed works as an economic writer and technical & fundamental analyst for many international Forex & Binary Options trading companies in both English and Arabic on a daily basis.
Mohammed Abdelkhalik

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