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Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Euro is retreating. Overview for 06.10.2016
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The Euro is retreating. Overview for 06.10.2016

06.10.2016
On Thursday, the main currency pair is back to falling after a short pause.

The EUR/USD pair is being sold again on Thursday. The pause made by bears was short, the demand for the USD is increasing. The current quote for the instrument is 1.1181.

The ECB representative, Erkki Liikanen, told today that the Regulator’s monetary policy should be as accommodative as possible in order to support the economy and reach the inflation target of 2%. The monetary politician is a supporter of an ultra-soft fiscal approach and thinks that non-traditional monetary methods are necessary and justified.

The Dollar was seriously supported later in the afternoon, when the USA published the report relating to the number of jobless claims in the previous month. The indicator is 249 thousand against the predicted number of 257 thousand. The forecast didn’t imply such good improvement. The USD supporters are very active in including all positive statistical details in prices while anticipating the US labor market report to be published tomorrow.

Strong Non-Farm Payrolls and employment level reports will make the Fed more open when it will come to a possible interest rate increase in December. And this, in its turn, will make a good foundation for the American currency.
 
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