The EUR/USD pair continued its recent uptrend, encouraged by good EMU data, the pair reached the 1.2350 zone in the early afternoon. The German and EMU PMI manufacturing reports also yielded a positive surprise resulting in a euro buying spree, propping up EUR/USD to the 1.2270 to the 1.2320 zone. Today, markets expect payrolls data, it supposed to be positive. Therefore the currency pair EUR/USD should move between 1.2250-1.2440 on Friday.
ČSOB - Investment Research