EURUSD is excessively optimistic. Overview for 03.12.2020

On Thursday morning, EURUSD is renewing more highs of the last 36 months and looks up. The current quotation is 1.2115.

The European statistics published yesterday demonstrated that the unemployment rate in October decreased a bit in accordance with forecasts, reaching 8.4% against 8.5% previously. This means that the situation in the employment sector is developing along with the expectations.

The USA started publishing labor market statistics of last month. The first index to be published is usually the ADP Non-Farm Employment Change. The number of workplaces here grew by 307 thousand places against the forecast 433 thousand and the previous increase of 404 thousand. Well, the statistics are, indeed, somewhat weaker than the forecasts and latest average but the results might be influenced by the general depression due to the pandemics, and the seasonal factor.

The ADP data and the NFP publication on Friday do not correlate directly but you have the idea of general moods.

On the whole, the market is quite optimistic, the interest to risk is huge, and investors are absolutely sure that the vaccine will fight back the virus.