The Euro is slowly climbing down. Overview for 29.06.2021

29.06.2021

EURUSD is falling a little bit; market players are saving strengths in anticipation of the statistics. 

The major currency pair is trading downwards on Tuesday morning. The current quote for the instrument is 1.1910.

Investors are very cautious and don’t want to risk. Anyhow, cautiousness may become this week’s motto – there will be a lot of numbers, which may cause a lot of different reactions, and investors seem to be ready for volatility. 

Reports on the USD labor market may influence the US Fed’s monetary policy. This time, the data is expected to be quite strong, both on the Non-Farm Employment Change and the Unemployment Rate. Strong reports may support the “greenback” and the Fed in its intentions to raise the benchmark interest rate twice before the end of 2023.

If the statistics are really impressive, expectations of decreasing the QE volume and tightening of the Fed’s monetary will become more obvious.

On the other hand, in order to completely revive, the labor market must create 800K or more, a million in an ideal scenario, jobs every month. If it happens, it may really shake up the employment sector and make the rate curve more dynamic. 

Attention!

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.