The main currency pair on Wednesday morning is gradually weakening, maintaining a three-day descending channel.
On Wednesday morning the euro continues to weaken. The current quote in the EUR/USD pair is 1.0953.
Yesterday interesting statistics were published by the United States. The number of new orders for manufactured goods in September decreased by 1.0% against a 2.1% dip in August. The forecast assumed that the indicator will weaken by 0.9%. The components of the report show, that the fundamental weakening is due to a drop in orders for transport equipment (-3.1%). Part of this negative factor is offset by the release of cars.
The manufacturing slowdown is not the most pleasant gift for the Federal Reserve in the framework of its reflections on the fate of interest rates.
Key publications for the euro/dollar this week will fall on Thursday and Friday - the US will publish data on the October labor market. The unemployment rate is likely to stay at around 5.1%, which is quite natural. The number of jobs outside the agricultural sector, Non-farm Payrolls, can add 180 thousand against growth of 142 thousand the month before.
Given that from the accompanying statement from the US Federal Reserve last time the mention of the risk of weak inflation disappeared, the focus of its attention is on the labor market. The stronger the statistics from this side, the more confident the regulator will be at the December meeting.
RoboForex Analytical Department
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