It’s payrolls day in the U.S. and traders eagerly wait for the job numbers of May. A solid job print could increase chances in favor of further Federal Reserve tightening instead of rate cuts.
The euro regained some strength against the U.S. dollar but we bear in mind that the 1.0780-area could act as a short-term resistance. For a bullish reversal we would need to see prices above 1.0850.
The British pound is currently testing the 1.2550-hurdle. Since it entered overbought territory, we expect some corrections soon.
U.S. non-farm payrolls are set to be released at 12:30 UTC.
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