EUR got stuck. Overview for 10.04.2023

EURUSD on Monday remains balanced. The current quote is 1.0900.

The decline in investing activities because of Good Friday and the Easter holiday let the market major keep balance.

The Friday statistics from the US almost went by unnoticed by the market participants. However, they still have a chance to play this data out in the quotes. So, the unemployment rate in March has improved to 3.5% from 3.6% previously, though it had not been expected to change. The NFP extended to 236 thousand instead of the 228 thousand forecast. The February report was revised for 326 thousand, which is interpreted as a good signal. The average hourly wage grew by 0.3% m/m. These increases in wages are typical and logical.

It can be said that all the gloomiest expectations concerning the employment sector have not come to life yet. However, the word “yet” is the clue here. The speed at which corporations and medium businesses are cutting down on the staff will sooner or later worsen the employment market situation. Companies keep having fewer chances for competing over workforce by increasing wages; they have less and less resources to maintain voluminous staff. All those people will get back to the labour exchange.

On Monday, it is worth taking a look at the US wholesale stocks report, but the day is expected to be calm because of the decreased investing activity: the majority of European countries remain on Easter vacation.