EURUSD is kind of stuck up in the air. Overview for 05.01.2022
It seems like EURUSD is “under zero gravity”; investors are waiting for signals.
The major currency pair is consolidating on Wednesday. The current quote for the instrument is 1.1317.
The price range of EURUSD is not very wide – the “greenback” was rising yesterday in the afternoon but lost its “profit” by nightfall. Market players are saving their strengths in anticipation of the US labour market data, for example, the ADP Non-Farm Employment Change, as well as the FOMC Meeting Minutes to be published later today.
Also, the Euro Area, the US, and Germany are scheduled to report on the PMIs – the data may revive the financial market a bit.
Not to say that investors are in favour of the risk – they are more of trying to escape it. This fact helps the USD to reach stability.
At the end of the week, other labour market data from the US will “hit the bell”. There is no direct correlation between today’s ADP Non-Farm Employment Change and the Non-Farm Payroll to be published on Friday, but the former definitely helps to form an impression of what is happening in the sector.
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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