EURUSD suffers from pressure. Overview for 08.11.2021

The major currency pair is slightly declining. The current quotation is 1.1560.

Friday statistics from the USA supported the dollar, but it had had no problems anyway. After the Fed made some decisions in accordance with the market expectations of a cut-down on stimulation, the dollar looks quite confident.

The unemployment rate in October in the USA dropped to 4.6% from 4.8% previously, while the forecast expected a result of 4.7%. Average hourly wage grew by 0.4% m/m, along with the forecast. The NFP in October increased by 531 thousand against the forecast 455 thousand. According to the revised statistics, last month the growth was 312 thousand.

So, Q4 started quite positively for the employment sector. This is mostly thanks to the spreading of the coronavirus slow down in September and October. This makes us think that Q4 for the US economy will be more efficient than Q3. The demand for workforce remains high, the number of vacancies is larger than the number of the unemployed.

The Fed suggests that by the mid of 2022, the States will have reached full employment, yet this seems fantastic.