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EUR/USD U.S NFP eyed for fresh direction

EUR/USD trades modestly lower at 1.1375, hovering in a tight range below 1.1390 levels. The main currency pair found fresh impetus from the upbeat German and Euro zone CPI figures, while broad based USD selling on Yellen’s dovish stance on the monetary policy also helped the EUR/USD pair to clinch fresh 2016 highs on Thursday at 1.1412.

Today Focus NFP Data.

The main risk event for today remains the highly influential US non-farm payrolls data due later in the NY session, with focus once again on the wage pressures. Markets are expecting another 205,000 jobs to be added in March. The unemployment rate should hold steady at 4.9% following a series of increases in labour force participation.

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