Article By RoboForex.com
On Thursday afternoon, the main currency pair resumed growing after the USA published the first block of statistics on the employment.
The USA published first reports on the employment market this month and the EUR/USD pair is back to strengthening again. The current quote for the instrument is 1.1390.
So, today the USA started publishing the June numbers on the employment market. According to the first one, the ADP Non-Farm Employment Change expanded by 158K after adding 230K the month before and against the expected reading of 184K. There is no direct correlation between ADP and NFP, but after seeing the weak ADP reading, investors are automatically expecting the same from NFP.
The Challenger Job Cuts decreased by 19.3% y/y in June, which is pretty good after adding 9.7% y/y the month before. However, this report was barely noticed.
Instead, investors paid quite a lot of attention to the Initial Jobless Claims, which increased up to 248K after being 244K and against the expected reading of 243K.
Free Reports:
There will be several other interesting reports later today. For instance, the June reports on the Final Markit Services PMI and the ISM Non-Manufacturing Business Activity.
At the moment, the market situation doesn’t help the USD to get stronger, so the Euro may break 1.14 and fix above it.
RoboForex Analytical Department
Article By RoboForex.com
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