The Euro intends to grow. Overview for 06.12.2019

06.12.2019

The major currency pair remains stable on Friday and intends to continue its growth. 

EURUSD is keeping its positive momentum at the end of a very volatile week. The current quote for the instrument is 1.1102. 

The American currency got significantly weaker yesterday due to mixed numbers from the USA. The Factory Orders report showed +0.3% m/m in October after being -0.8% m/m in the previous month. The indicator got a little support from the growth of demand for computers and electronic products, as well as machinery orders, but at the time of weak business activity and manufacturing sector, the growth is rather limited. 

Transportation equipment orders rebounded by +0.7% after losing 3.2% in September. Civilian aircraft and parts increased by 10.7%, but couldn’t completely recover after showing -19.0% the month before.

It’s quite interesting that orders for electrical equipment, appliances and components dropped 1.8%, thus eliminating growth by 0.9% September.

Data on the labor market was good: the weekly Unemployment Claims report showed 203K after 213K the week before, which is the lowest value in 7 months. The USA will continue reporting on the employment, including the NFP and the Unemployment Rate. These reports are always interesting for market players and make EURUSD more active.

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.