Huge Day For Markets

Happy Friday, dear traders! Today is a great day to trade, as the US NFP report will be released at 15:30 GMT+3. Let's check more news moving the markets today!

• Yields on 2-year Treasuries peaked amid expectations of further rate hikes by the Fed.

• US JOLTS Job Openings data came below expectations (9.82M vs. 9.93M expected), indicating a slow but steady weakening of the labor market. EURUSD fell 630 points and returned to the initial level.

• US ADP Non-Farm Employment Change (an earlier and weaker labor data that comes before the actual NFP) disagrees with the JOLTS. ADP supposes the US added 497K new jobs vs. 226K expected.

• Twitters new rival, Threads, became the fastest-growing app in history, gaining over 30 million users in one day. Elon Musk wants to file a lawsuit, accusing Threads employees of stealing.

• The yen may fall through the three-decade low it reached last year amid Japans widening monetary policy divergence with the US. Some market participants expect USDJPY to come to 160.00.

• Bitcoin rose 3.5% yesterday but then fell 5.3%.

• USDJPY lost around 1000 points at the beginning of the trading session today.

EURUSD analysis

EURUSD is consolidating between the 50- and 200-MA on the H4 timeframe. Recently, the pair bounced off the 50-MA. Thus, we expect a decline today to 1.0830. In case the price declines below 1.0830, the next target will be at 1.0780.

However, we need to mention that the breakout of the 50-MA will open the way to 1.0920 and 1.1010.