EUR/USD Traders Eye Key Economic Releases Amid Expectations of ECB Rate Hike

The EUR/USD currency pair is trading cautiously around 1.1500 as investors await key US economic releases, including the JOLTS Job Openings data for June and the Nonfarm Payrolls (NFP) data for July.

The European Central Bank (ECB) is highly expected to raise interest rates in its September meeting, with analysts at Deutsche Bank stating that ECB September hike pricing is around 90%.

According to technical analysis, the EUR/USD pair holds a modest bullish near-term bias as price advances above the 20-period exponential moving average (EMA) at 1.1451, suggesting underlying demand.