EURUSD: SELL 1.1665, SL 1.1685, TP 1.1580 | 08 September 2025

Event to pay attention today:

05.09.25 15:30 EET. USD — Change in Nonfarm Payrolls / Unemployment Rate

EURUSD:

A series of U.S. economic data showed that labor market conditions are deteriorating. The August Challenger Job Cuts report indicated that companies laid off nearly 86 thousand Americans, while the ADP National Employment report for August fell short of expectations. The number of people receiving unemployment benefits increased as labor data moved into focus.

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Market participants have almost fully priced in a 25-basis-point Fed rate cut. Nevertheless, the approaching Nonfarm Payrolls report suggests that EUR/USD traders should wait for its release before opening new positions.

Other data showed that the trade deficit widened in July as companies rushed to increase shipments and inventories ahead of tariffs taking effect. At the same time, according to the Institute for Supply Management (ISM), business activity in the services sector improved.

Given the U.S. fundamental backdrop, this scenario points to a slowing yet resilient economy. Nevertheless, the labor market seems to be asserting itself, justifying Fed Chair Jerome Powell’s pivot at Jackson Hole, where he opened the door to adjusting interest rates.

Trading recommendation: SELL 1.1665, SL 1.1685, TP 1.1580

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