The EURUSD fell again during the trading session on Thursday after forming an inverted hammer on Wednesday, the currency pair plunged to a 5-year low of 1.0425. The strong bearish sentiment is driven by the dollar strength and concerns about the economic fallout from the Ukraine crisis.
Global markets made slim gains on Wednesday as investors waiting for U.S. inflation data that might influence the Federal Reserve’s decision on whether to act more aggressively.
Global markets including stocks, commodities and cryptocurrencies had a bearish start to a new week due to mounting worries about higher interest rates.
Global markets are extremely volatile on Friday trading ahead of the US jobs report, which is set to be released at 12:30 GMT. The market participants expect that the US economy added 391k jobs in April while the Unemployment Rate may have eased to 3.5% from 3.6% prior.
Crude oil prices trade near the weekly highs ahead of the OPEC+ members meeting on Thursday to determine the production quota for June. The meeting is expected to begin at 11:30 GMT in Vienna.