EURUSD may fall. Overview for 04.01.2022
Early in the year, EURUSD got under pressure and may resume falling.
The major currency pair dropped a little bit yesterday and may continue to move inertially. The current quote for the instrument is 1.1287.
The data published yesterday showed that the Manufacturing PMI in the Euro Area remained at 58.0 points in December, the same as expected. The Manufacturing PMI in Germany dropped to 57.4 points after being 57.9 points in November.
The first day of 2022 wasn’t too active as some countries are still celebrating the New Year.
The currency market is expected to revive today. Germany will report on the Retail Sales and the Unemployment Change. The US is also scheduled to release some interesting data, such as the ISM Manufacturing PMI and the ISM Manufacturing Prices.
However, the most interesting statistics will be published starting from Wednesday – the US will report on its labour market, for example, ADP Non-Farm Employment Change. Other important reports will be released on Friday – the Non-Farm Employment Change, the Unemployment Rate, and the Average Hourly Earnings, which are expected to show strong numbers. =They might provide the “greenback” with great support.
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.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.