The Euro managed to strengthen. Overview for 11.10.2021

EURUSD is rising a little bit on Monday afternoon; investors are hoping for a calm trading session. 

Early in another October week, the major currency pair is slowly growing. The current quote for the instrument is 1.1574.

American statistics published last Friday were rather mixed. It was the last pack of information before the November meeting of the US Federal Reserve System, during which the regulator is expected to decide on its stimulus program. That’s why the data attracted a lot of attention. 

The Unemployment Rate in the USA dropped to 4.8% in September after 5.2% in the previous month and against the expected reading of 5.1% – that’s an excellent result. The Average Hourly Earnings added 0.6% m/m after expanding by 0.4% m/m the month before. It means that businesses are feeling strong enough to compete for manpower. 

On the other hand, the NFP showed only 194K after being 366K in August and against the expected reading of 490K. 

Obviously, there is some “vacuum” of the labour supply, so the employment sector is experiencing some pressure. 

It’s quite difficult to make clear sense of this data: on one hand, everything is quite good, the sector is moving in the right direction and improving. On the other hand, a continuous problem with the labour shortage may cause a lot of difficulties in the future. However, we won’t know how the Fed is going to perceive this information until November. 

American markets are closed today due to the Bank Holiday and there are no important statistics from both the USA and the Euro Area.