EURUSD attack by the bears. Overview for 04.09.2023
The major currency pair remained in a weak position on Monday, although it is attempting to correct itself. The current EURUSD exchange rate stands at 1.0780.
The US released a significant set of crucial macroeconomic statistics last Friday. The data impressed investors and revived discussions about the future of interest rates in the US market.
The unemployment rate rose to 3.8%, up from 3.5% a month earlier. Average hourly earnings increased by only 0.2% m/m, falling short of the forecasted 0.3% growth and the previous increase of 0.4%. This data was far from encouraging, indicating that the economy is still responding to high interest rates and not performing at its best.
Non-farm payrolls added 187,000 jobs, surpassing expectations.
Overall, the presented data gives investors cause for speculation. It is the employment market that currently appears mixed, and it is uncertain whether the Federal Reserve will base its decision on interest rates in November solely on this factor.
Today is a holiday in the US, and there will be no economic statistics released. The Eurozone will present the Sentix investor confidence index, which could drop to -19.6 points in September.
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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