The main currency pair is entering the second week of April rather quietly; investors aren’t ready to risk.
EURUSD is neutral on Monday afternoon and moving without any “ups and downs”, despite some problems on other capital markets. The current quote for the instrument is 1.2282.
So far, investors are entirely focused on the numbers that came from the USA last Friday. The Unemployment Rate in March remained at 4.1%, although it was expected to decrease up to 4.0%.
The Non-Farm Employment Change in the same month added only 103K after expanding by 326K in February and against the expected reading of +188K. Although everyone knows that the American labor market is strong and stable, it wouldn’t be wise to expect that the “crazy” February trend continues. The correction, which is taking place right now, is more appropriate.
The Average Hourly Earnings added 0.3% m/m in March, the same as expected: the number of workers fell and, as a result, salaries increased. This fact may be a signal for the US Federal Reserve to increase the key rate in the future faster than planned.