• EUR/USD found a foothold near 1.1050 on quiet Monday.
• US markets were dark to kick off trading week, bringing thin volumes.
• Key EU data this week threatens to get overshadowed by US NFP.

EUR/USD found a thin bid on Monday, kicking off the new trading week finding a foothold near 1.1050 as the Fiber tries to hang onto near-term gains. Markets kicked off Monday on a notably thin volume profile, with US markets shuttered for the Labor Day holiday. An extended weekend will see US markets return to the fold on Tuesday just in time to stare down the barrel of a heavy docket full of US labor figures throughout the rest of the week.

EU Retail Sales and Gross Domestic Product (GDP) growth figures are due later in the week, on Thursday and Friday, respectively. However, the big news for the trading week will be a slate of US labor figures, kicking off with Wednesday’s JOLTS Job Openings for July, which is forecast to hold steady at 8.1M MoM.

Thursday’s US ADP Employment Change for August is expected to bounce to 145K from the previous month’s 122K, but the key labor print from the US this week will be Friday’s US Nonfarm Payrolls (NFP) report for August. The US is expected to deliver a healthy print of 165K compared to the previous month’s 114K, and special attention will be paid to the release figures and any historical revisions as this represents the last round of NFP jobs numbers before the Federal Reserve (Fed) gathers on September 18 to deliver a hotly-expected opening volley in a new rate cutting cycle.