Article By RoboForex.com
The major currency pair managed to reach stability on Wednesday. The current quote for the instrument is 0.9730.
The United States secretary of the treasury Janet Yellen believes the current USD rate reflects the corresponding monetary policy. According to Yellen, there are no signs of financial instability in global capital markets. She said that strengthening of the American currency is a logical result of different policies e also said that a decline in the number of jobs offered relieves some stress in the employment sector.
The September labour market data showed stability in the sector: the Unemployment Rate dropped to 3.5%, the Non-Farm Payrolls showed 263K. Experts were expecting weaker readings, which might force the US FOMC to slow down its aggressive monetary tightening. However, it didn’t work.
In the afternoon, the Euro Area will report on the Industrial Production, which might add 0.6% m/m in August after losing 2.3% m/m the month before. Later in the evening, investors will switch their attention to the FOMC Meeting Minutes.
Article By RoboForex.com
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
- The People’s Bank of China kept key rates unchanged. Oil grows amid escalating conflict in the Middle East Sep 20, 2024
- AUD/USD Reaches New Heights as Risk Sentiment Improves Sep 20, 2024
- Brent Crude Oil Rebounds Amid Monetary Easing and Market Dynamics Sep 19, 2024
- The US Fed surprised the market with a sharp rate cut. Australia’s labor market remains resilient Sep 19, 2024
- The US Federal Reserve will begin its rate-cutting cycle today. In the UK, inflation figures were unchanged Sep 18, 2024
- USDJPY Experiences Renewed Decline as Market Adjusts Expectations Sep 18, 2024
- Countdown to Fed decision enters final hours Sep 18, 2024
- Gold (XAUUSD) Holds Near Record Highs Amid Anticipation of Fed Rate Cut Sep 17, 2024
- EUR/USD Gains as Fed Meeting Approaches Sep 16, 2024
- The US Federal Reserve may start the rate-cutting cycle with a 0.5% move. Silver reached a 2-month high Sep 16, 2024