The USD got under significant pressure. Overview for 10.12.2018
The major currency pair is growing quickly; investors are against the USD.
EURUSD is skyrocketing on Monday morning. The current quote for the instrument is 1.1430.
The statistics from the USA published last Friday are still against the USD. The Non-Farm Employment Change in November was 155K, which is much worse than both the previous (237K) and expected readings (198K). At first, the indicator is being corrected after strong October, and that’s fine. Secondly, the current decline doesn’t look critical, mostly because construction companies required less jobs in November due to daily temperature fall.
The Unemployment Rate in the USA remained at 3.7% in November, the same as in the previous month. However, the indicator wasn’t expected to change in the first place. The Average Hourly Earnings continued expanding and added 0.2% m/m after increasing by 0.1% m/m the month before and against the expected reading of +0.3% m/m.
By the way, on YoY, the latter indicator increased by 3.1%. It’s the strongest improvement since spring 2009, which is a very positive signal.
However, taken together these numbers weren’t able to support the USD. Over the last week, the Euro added almost 0.8% against the American currency.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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