Early in another autumn week, EURUSD is reaching stability amid declining external risks.
The major currency pair is looking good on the first October Monday. The current quote for the instrument is 1.1735.
External risks are reducing and not as scary as they were earlier. The fact that US President Donald Trump and his family have the coronavirus scared market players pretty much and made them switch to “safe haven” assets. However, now it’s clear that the illness is following without any complications and posing no hazard to the president’s life – it’s not critical for Trump’s policy and election campaign.
The statistics published last Friday were rather mixed but still were good enough to decrease risks.
The Unemployment Rate in the USA dropped to 7.9% in September after being 8.4% in August and against the expected reading of 8.2%. The indicator may yet continue to reduce but not too much. The Average Hourly Earnings expanded only by 0.1% m/m after adding 0.3% m/m the month before and against market expectations of 0.5% m/m. The Non-Farm Payroll showed 661K after being 1.489M in August and against the expected number of 900K. However, it’s quite clear that the sector can’t skyrocket on a regular basis – here is either quantity or quality.
The statistics say that the US economy might as well handle the situation for some more time without an additional stimulus package but it doesn’t mean that the package won’t be needed at all. Additional money and economic support would do a great job for the labor market and, as result, consumer activism.
Orgin: RoboForex
