Quotes from UniCredit Research:
-Although we expect the somewhat improved preliminary PMI data for the eurozone to be confirmed by the final release and Mr. Draghi to not step up FX rhetoric at next week’s press conference, this will probably not be enough to fully offset another good US employment report and a slightly weaker ISM index on the back of clearly improved USD sentiment following the latest FOMC statement.
-New job creation of about 225k is also likely to push aside the probability of a modest increase in the unemployment rate to 6.0% (note that the precise September rate was 5.942%). As a whole we expect EUR-USD to decline closer towards the psychologically relevant threshold of 1.25, but unlikely to undershoot the strong technical support level of 1.2501.
The material has been provided by InstaForex Company – www.instaforex.com