{"id":83251,"date":"2019-12-06T03:46:34","date_gmt":"2019-12-06T08:46:34","guid":{"rendered":"https:\/\/currencylive.com\/?p=83251"},"modified":"2019-12-06T03:50:03","modified_gmt":"2019-12-06T08:50:03","slug":"101701-eur-usd-pair-tests-1-11-after-disappointing-german-data-nfp-next","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101701-eur-usd-pair-tests-1-11-after-disappointing-german-data-nfp-next\/","title":{"rendered":"EUR\/USD: Pair Tests $1.11 After Disappointing German Data; NFP Up Next"},"content":{"rendered":"\n\n\n
\"\"<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n
EUR\/USD previous four days:<\/strong><\/td>\nRate – Average<\/strong><\/td>\n<\/tr>\n
12\/5\/2019<\/td>\n1.11<\/td>\n<\/tr>\n
12\/4\/2019<\/td>\n1.1079<\/td>\n<\/tr>\n
12\/3\/2019<\/td>\n1.1078<\/td>\n<\/tr>\n
12\/2\/2019<\/td>\n1.1040<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The euro grinded slowly higher versus the US dollar across the previous session. The euro US dollar exchange rate pushed above the key level of US$1.11 on Thursday, closing near the session high at US$1.1104. The pair gave up early gains on Friday, although was still managing to hold US$1.11.<\/p>\n

The euro slipped in early trade following the release of German industrial production figures. Industrial production in Europe\u2019s largest economy sank -1.7% month on month in October. This was significantly worse than the 0.1% increase than analysts had forecast. This was the second consecutive month of declines and the steepest fall since April. The data reminded investors of the fragility of the German manufacturing sector, which has been in a downturn for around a year amid Brexit and the ongoing US \u2014 China trade dispute.<\/p>\n

This latest show of weakness in Germany will no doubt feed into discussions at the European Central Bank monetary policy meeting next week.<\/p>\n

Will NFP Drag Dollar Lower?<\/strong><\/h3>\n

Despite broadly better than forecast US data in the previous session, the dollar drifted lower. Investors continued to weigh up mixed trade messages whilst looking ahead to today\u2019s non-farm payroll release.<\/p>\n

The US Labour Department\u2019s jobs report, also known as the non-farm payroll report, is the most keenly awaited data release across the month. It is the most complete labour sector write up by the Federal government. It is also closely watched by the Federal Reserve given that their dual mandate includes maximum employment.<\/p>\n

Analysts are expecting a headline figure of 180,000 jobs, above the 128,000 created in October. However, it is worth pointing out that leading indicators have not been impressive. The ADP private payroll report surprised to the downside. The employment components in the ISM non-manufacturing and manufacturing reports also declined in November. Combing these lead indicators suggests that today\u2019s non-farm payroll job creation figure could disappoint.<\/p>\n

The report is also expected to show that the rate of unemployment held steady at 3.6% in November, whilst wages ticked higher to 0.3%, up from 0.2%. A weak report could drag the dollar lower.<\/p>\n\n\n\n
\"\"<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n
What do these figures mean?<\/strong><\/td>\n<\/tr>\n
When measuring the value of a pair of currencies, one set equals 1 unit and the other shows the current equivalent. As the market moves, the amount will vary from minute to minute.<\/p>\n

For example, it could be written:<\/p>\n

1 EUR = 1.12829 USD<\/em><\/p>\n

Here, \u20ac1 is equivalent to approximately $1.13. This specifically measures the euro\u2019s worth against the dollar. If the U.S. dollar amount increases in this pairing, it\u2019s positive for the euro.<\/p>\n

Or, if you were looking at it the other way around:<\/p>\n

1 USD = 0.88789 EUR<\/em><\/p>\n

In this example, $1 is equivalent to approximately \u20ac0.89. This measures the U.S. dollar\u2019s worth versus the euro. If the euro number gets larger, it\u2019s good news for the dollar.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

\n
Currencylive.com<\/em> is a news site only and not a currency trading platform.<\/em><\/h6>\n
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EUR\/USD previous four days: Rate – Average 12\/5\/2019 1.11 12\/4\/2019 1.1079 12\/3\/2019 1.1078 12\/2\/2019 1.1040 The euro grinded slowly higher versus the US dollar across the previous session. The euro US dollar exchange rate pushed above the key level of US$1.11 on Thursday, closing near the session high at US$1.1104. The pair gave up early […]<\/p>\n","protected":false},"author":163946597,"featured_media":5721,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[1413,1395,1393,1424,1953,1388,1493,1397,1398],"class_list":["post-83251","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-usd","tag-ecb","tag-eur","tag-euro","tag-german-recession","tag-indusrial-prodution","tag-jobs-data","tag-nfp","tag-us-dollar","tag-usd"],"acf":[],"yoast_head":"\nEUR\/USD: Pair Tests $1.11 After Disappointing German Data; NFP Up Next - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/101701-eur-usd-pair-tests-1-11-after-disappointing-german-data-nfp-next\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101701-eur-usd-pair-tests-1-11-after-disappointing-german-data-nfp-next\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101701-eur-usd-pair-tests-1-11-after-disappointing-german-data-nfp-next\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"EUR\\\/USD: Pair Tests $1.11 After Disappointing German Data; 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