The post EUR/USD trades sideways around 1.1600 as US NFP takes centre stage appeared on BitcoinEthereumNews.com.

The EUR/USD pair trades in a tight range around 1.1600 during the European trading session on Friday. The major currency pair consolidates as investors await the United States (US) Nonfarm Payrolls (NFP) data for February, which will be published at 13:30 GMT. As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades flat near 99.00, but is still close to its three-month high of 99.68 posted on Tuesday. The impact of the US NFP data will be significant on the Federal Reserve’s (Fed) monetary policy outlook as officials have remained concerned over labor market risks. Economists expect US employers to have hired 59K fresh jobs, significantly lower than 130K in January. The Unemployment Rate is seen as steady at 4.3%. Meanwhile, Average Hourly Earnings, a key measure of wage growth, is estimated to have remained steady at 3.7% Year-on-Year (YoY). Signs of strong labor demand and higher wage growth would force traders to pare dovish Fed bets further. This week, the speculation for the Fed reducing interest rates in the July policy meeting eased after the release of the ADP Employment Change data on Wednesday, which showed a higher-than-expected addition of fresh workers in February. According to the CME FedWatch tool, the odds of the Fed holding interest rates steady in the July policy meeting have increased to 47.4% from 33.4% seen a week before. In the Eurozone, the European Central Bank (ECB) is expected to hold interest rates steady for a longer period despite the ongoing war in the Middle East. ECB President Christine Lagarde said during a Q&A session on Thursday that the “monetary policy is not on a preset course”, and the central bank is carefully monitoring the impact of the war. Nonfarm Payrolls FAQs Nonfarm Payrolls (NFP) are part…

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Filed under: News - @ March 6, 2026 8:25 am