The Euro remains under pressure. Overview for 10.01.2020
On Friday, the major currency pair continues trading “in the red”, but bears aren’t as active as they used to be.
EURUSD is trying to reach stability on Friday morning, but there are still more bears than bulls in the instrument. The current quote for the pair is 1.1108.
The USA is scheduled to report on its labor market this week. On Wednesday, the country published the ADP Non-Farm Employment Change, which showed 202K in December after being 124K in November and against the expected reading of 140K.
Yesterday, the USA published the weekly Unemployment Claims report, which was 214K after being 223K the week before. It’s quite good, although the readings are inside the reference values.
Later today, investors will be surely interested in the Non-Farm Employment Change, which is expected to show 266K in December after being 162K in the previous month. Another report, the Average Hourly Earnings, is anticipated to show +0.2% m/m in December after expanding by 0.3%m/m in November. Marker expectations relating to the Unemployment Rate are 3.5%.
The stronger the labor market numbers, the better for the American currency.