Euro relies upon the interest to risk. Overview for 04.12.2020


Yesterday EURUSD renewed another high of the last 36 months and remains strong this morning. Investors have never been so sure of what they are doing — so they keep buying. The current EURUSD quotation is 1.2151.

The statistics is generally positive for those who are ready to buy.

For example, retail sales in the EU in October grew twice as forecast — by 1.5% m/m against 0.7% m/m and a preceding slump by 1.7% m/m. This might mean that consumers are more confident than before

The Unemployment Claims index (USA) demonstrates a decline to 712 thousand against 787 thousand a week ago. A decline was expected, yet the forecasts were much more conservative. The market is stabilizing smoothly, improving its positions — after all, the USA have always known how to employ crowds.

The PMI in Services officially dropped to 55.9 points from 56.6 points earlier. Meanwhile, Markit tells us about an increase to 58.4 points against 57.7 points. The truth is normally somewhere in between.

Today much attention will be driven to the labor market statistics for November in the USA. The unemployment rate could have fallen a bit, while the NFP could have grown, though less prominently than earlier. As always, the devil is in the details. The dollar is weak, and any problems can become a serious blow to it.


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.