EURUSD played back losses. Overview for 07.11.2022

The market major starts the new week neutrally. The current quote is 0.9950.

The statistics issued in the US on Friday turned out quite ambiguous. The unemployment rate in October grew to 3.7%, while a month ago it was 3.5%. The forecast had suggested growth to 3.6%.

The NFP grew by 261 thousand against the 197 thousand expected. Also, the results of September were revised and improved to 315 thousand. This is good news meaning that companies manage to create new workplaces even with crediting costs growing and the financial situation becoming tougher.

Average hourly wage in the US in October grew by 0.4% m/m after previous growth by 0.3% m/m. This is also a good signal that demonstrates that the economy is more stable than it seemed.

Over the next few days, all eyes will be glued to the Congress elections. Almost every time political events on such a level become a real show. In this situation, stock market sentiment may change frequently as investors will be following the rhetoric of the politicians and the results of voting. All this may be reflected in volatility levels.