The Euro continues it positive momentum against the USD that started earlier. The current quote for the instrument is 1.1128.
Last Friday, the USA published a lot of December numbers of the labor market, which didn’t make investors happy at all. For example, the Non-Farm Employment Change showed 145K in December after being 256K (revised from 266K) in November and against the expected reading of 162K. However, no matter how unimpressive the actual reading turned out to be, it was still better than the indicator’s median value.
The Average Hourly Earnings added only 0.1% m/m in December, which is about 3 cents. In the previous month, the indicator showed +0.3% m/m and the same growth was expected this time.
Most likely, these mixed parameters are a result of decline of supply in the labor market. However, it is decreasing not because of serious issues and problems in the sector, but due to oversupply in the market, which can not expand as fast as it did before. Still, the Unemployment Rate remained unchanged at 3.5%.
Later in the week, the USA are scheduled to report some interesting numbers, such as CPI, which is expected to add 0.2% m/m in December, the same as the month before.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.