The “greenback” got even stronger. Overview for 03.12.2021

03.12.2021

EURUSD is quite calm in anticipation of the US labour market statistics. 

The major currency pair is barely moving while waiting for the statistics. The current quote for the instrument is 1.1292.

The Unemployment Claims data published yesterday showed that the indicator was 222K this week after being 194K the week before. and against the expected reading of 238K. 

Later today, the US will report on other labour market indicators for November. 

Possibly, the Unemployment Rate may drop from 4.6% to 4.5%. Another report, the Non-Farm Payrolls, is expected to show 553K after being 531K in the previous month. The Average Hourly Earnings may add 0.4% m/m, the same as in October. It will be good news. 

Overall, market expectations are quite positive. If actual readings match them, the USD rate may improve. 

The labour market stability will allow the US Fed to close the QE programme faster than it was announced earlier this week. 
 

Attention!

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.