The Euro slowed down its growth. Overview for 04.10.2019

04.10.2019

The major currency pair has significantly improved over this week, but investors need new catalysts. 

EURUSD slowed down its growth on Friday morning in anticipation of the statistics from the USA and speeches to be delivered by the US monetary policymakers. The current quote for the instrument is 1.0973.

Yesterday, market players had concerns about signs of weakness in the manufacturing and non-manufacturing sectors of the USA, because they might influence the global economy in general. However, maybe investors just got tired of buying and decided to wait for news. 

The news will surely be today: later in the afternoon, the USA is going to report on the labor market for September. The Unemployment Rate may remain unchanged at 3.7%, which is the same as expected. The Average Hourly Earnings is expected to add 0.3% m/m after increasing by 0.4% m/m in August, and that’s a very good result. 

Of course, investors’ attention will be focused on the Non-Farm Employment Change, which may show 145K after 130K the month before. In general, market expectations are quite favorable, and if they match actual readings, the USD may recover a bit. 
In the evening, several US Federal Reserve members are scheduled to speak, including the Chair Jerome Powell, so the major currency pair may become very volatile along towards evening. 

 

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.