Investors await key US labor reports this week, including Friday’s Nonfarm Payrolls, to gauge Fed policy direction.
The Euro steadied above 1.1500 against the US Dollar on Tuesday, recovering from a pullback after hitting three-week highs near 1.1560. Mild risk appetite and cautious positioning ahead of US labor data provided support, offsetting geopolitical tensions between the US and Iran.
Markets are focused on a series of US employment reports, starting with JOLTS Job Openings and Factory Orders later Tuesday. Analysts expect June JOLTS openings to decline to 7,000k from May’s 7,594k, with consensus at 7,504k. The highlight remains Friday’s Nonfarm Payrolls, which could influence the Federal Reserve’s near-term policy stance.
TD Securities warned the recent surge in US labor demand is likely unsustainable, while Rabobank analysts cautioned on the pair’s near-term outlook.