The euro exchange rate remains sideways in the range of November 30

The euro exchange rate remains sideways in the range of November 30
On Wednesday, December 2, by the end of the day, the euro fell by 0.17%, to 1.1301. At the auctions in Europe, the dollar index was under pressure. The euro / dollar pair rose to 1.1348. In the American session, the buyers lost all their profits, remaining in the range of 1.1300-1.1355. The change in the mood of traders in the cross-pair negatively affected the main pair with the dollar.

Scheduled statistics (GMT +3):

At 10:30, ECB President Christine Lagarde will deliver a speech.
At 10:45, Italy is to publish an index of business activity in the services sector for November.
At 10:50 am France is to publish an index of business activity in the services sector for November.
At 10:55, Germany is to publish an index of business activity in the services sector for November.
At 11:00 the Eurozone is to publish an index of business activity in the services sector for November.
At 11:30 the UK is to publish an index of business activity in the services sector for November.
At 12:00 in the euro area, there are data on the volume of retail sales for October.
At 15:30, Canada will provide data on changes in the number of employees, as well as the unemployment rate for November.
At 15:30 in the US, a report will be released with data on changes in the number of people employed in the non-agricultural sector, average hourly wages, November unemployment rate.
At 17:45, the US is to publish the final data on the service PMI for November. At 18:00 will be released the index of business activity for the non-manufacturing sector from ISM for November.

Current situation:

Major currencies are trading slightly downside. The Australian and the New Zealander bear the greatest losses against the dollar. Sales strengthened after the release of weak data on China. The index of business activity in the service sector in November was lower than the forecast and the previous value.

Tensions are growing between the US and China from Taiwan and the previously imposed tariffs. The US and the EU believe that China's actions in the Taiwan Strait undermine peace in the region and affect their security and prosperity.

Payrolls is out today. If the report disappoints the market, a rally to 1.14 should be expected. With a strong report, we are expected to fall to 1.1235. At 18:00 Moscow time will be released the index of business activity for the non-manufacturing sector from ISM for November. This indicates that volatility will be high as these are the latest reports ahead of the FOMC meeting (December 14-15).

Technical analysis:

Buyers lost profit on Thursday, but remained in the 1.1235-1.1383 price range from November 30. Today the direction of travel will be determined by the NFP data.

The pair is trading near the 45th degree at 1.1291. Support from the trendline (1.1186 low) crosses the 1.1272 level. The NFP report will be released at 16:30 Moscow time, so sellers can have time to go to it before peirosle.

Summary:

The euro closed in the red on Thursday amid renewed strengthening of the US dollar ahead of Friday's US labor market report. The price is trading in the range of 1.1235-1.1383 from November 30. Increased volatility in the market is expected from 16:30 to 18:30 Moscow time. after the release of American statistics.