Euro/dollar remains depresses, waiting for the release of US employment statistics. The current quotation is 1.1835.
Last night, one of the Fed's officials delivered a speech and mentioned that the regulator might reduce stimulation earlier than planned. The comment made the profitability of US treasury bonds grow, which also supported the dollar.
Simultaneously, this distracted investors from quite a weak release of the ADP private sector workplaces in July. Statistics showed that the indicator had grown by 330 thousand against 695 thousand forecast and the previous growth by 680 thousand.
There is no direct correlation between the ADP and the NFP on Friday but we already have a general impression, and it is not good at all. As long as the divergence between the real and forecast ADP is almost two times as much, capital markets have become somewhat nervous about the report on Friday.
These are extremely important data: investors worry whether the US economy will be growing as dynamically as before even with the new type of the coronavirus spreading.
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.