Last Friday, the major currency pair continued growing despite some good numbers on the US labor market
EURUSD was still growing last Friday, although the statistics on the US employment were pretty good. The current quote for the instrument is 1.1171.
According to the statistics published at the end of the previous trading week, the Non-Farm Employment Change was 128K in October against the expected reading of 90K. The month before, the preliminary reading was 136K, which later was revised upwards to 180K. The Unemployment Rate added 0.1% in October and went from 3.5% to 3.6%, which was quite well expected. The Average Hourly Earnings added 0.2% m/m after remaining unchanged in the previous month and against the expected reading of +0.3% m/m.
In general, the numbers are pretty good – employers still can compete for the labor force and create new jobs, although the sector is already quite balanced.
The ISM Manufacturing PMI increased up to 48.3 points in October after being 47.8 points the month before. The indicator failed to reach market expectations of 49.0 points, but the actual reading is positive anyway.
In the nearest future, market players will pay undivided attention to US-China trade talks. China has doubts that the parties will make a trade agreement with its opponent. However, at the moment all that investors know is that negotiations are in progress and not going to stop. The APEC summit where they could have signed the document was canceled. However, Americans are sure that it’s not a problem.
In addition to that, market players are still following the impeachment of US President Donald Trump, which is now in his favor, because the impeachment was sent to the Senate, where Trump’s party has the majority. In other words, Trump is highly likely to remain intact.
Orgin: RoboForex
