Euro keeps consolidating. Overview for 04.09.2020
EURUSD is consolidating, waiting for the news. The current quotation is 1.1850.
The whole amount of attention in the exchange is now concentrated on the upcoming statistics. Friday is the crucial day in this sense: the USA are preparing a block of data on the employment for the last month. This is going to be exciting – at least, from the point of view on the dynamics of the unemployment rate and wages.
The statistics published before showed that in the second quarter of 2020 labor productivity in the US grew noticeably: the indicator grew by 10.1% against the growth of 7.3% in the first quarter. Unit labor costs, at the same time, decreased in April-June to 9% against 12.2% at the beginning of the year.
This is rather clear: he second quarter was the most painful for businesses when production was put on halts and expenses on staying afloat were maximal.
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