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ForexMediumUpdated•Originally published 6 March 2026•Updated 6 March 2026•
1 min read

Euro and Pound Trade Cautiously Against Dollar Ahead of US Jobs Report

Key Facts

1The GBP/USD pair traded near 1.3365 during the Asian session.
2The US Dollar ticked down as markets anticipate the Nonfarm Payrolls (NFP) report.
3US Nonfarm Payrolls data for February is scheduled for release at 13:30 GMT.

The EUR/USD pair is currently trading sideways around the 1.1600 level as the European session gets underway. This consolidation comes as the broader currency market remains in a holding pattern ahead of the crucial US Nonfarm Payrolls (NFP) report for February. The GBP/USD pair also showed relative stability earlier, having traded near 1.3365, as the US Dollar Index experienced a slight softening. Scheduled for release at 13:30 GMT, the employment data is expected to provide critical insights into the health of the US labor market and the Federal Reserve's future interest rate path. Investors are maintaining a cautious stance, as any significant deviation from consensus expectations could trigger sharp volatility across major pairs. Market participants are particularly focused on how these figures might influence the Fed's monetary policy trajectory in the coming months.