Investors await US Nonfarm Payrolls and JOLTS data this week to gauge Federal Reserve interest rate moves amid suspended forward guidance.
The Euro trades cautiously at 1.1500 against the US Dollar in European trading, reflecting investor caution ahead of key US economic releases. The US Dollar Index remains near 100.00, supported by Monday’s gains, as markets await Friday’s July Nonfarm Payrolls data.
US JOLTS Job Openings for June, due later Tuesday, are expected to show 7.45 million new postings, down from May’s 7.594 million. The data will influence Fed policy expectations, as the central bank ended forward guidance in June. Meanwhile, Eurozone traders price in a 90% chance of an ECB rate hike in September.
EUR/USD holds a modest bullish bias above its 20-period exponential moving average, though volatility is expected to persist as markets digest upcoming labor market reports.