Friday’s statistics was in favor of the USD. Overview for 11.12.2017

The main currency pair is getting stabilized on Monday morning and trying to move away from three weeks’ lows.

On Monday morning, the EUR/USD pair is growing a little bit. The current quote for the instrument is 1.1775.

Investors are still under the impression of the US Labor market statistics that was published last Friday. The Unemployment Rate remained unchanged in November, at 4.1%, the same as the month before, although market expectations were 4.2%. The Non-Farm Employment Change added 228K against the previous number of 244K and expectations of 198-200K.

No one was expecting October numbers to repeat in November, but Friday’s readings were still very good and positive. The US Labor market is feeling fine and slowly expanding.

The only thing that is a bit out of the picture is the Average Hourly Earnings. In November, the indicator added 0.2% m/m, although it was expected to expand by 0.3% m/m. However, the current reading is quite good in comparison with the October one, when it lost 0.1% m/m. Employers are revising salaries rather slowly, because they have to consider domestic demand and global economic outlook. This is why there is no stable dynamics in salaries growth.

This week will be very active for the EUR/USD pair. There will be a lot of events planned for the next several days, including meetings of the US Federal Reserve and the European Central Bank, macroeconomic reports, and speeches to be delivered by some of the monetary politicians.

RoboForex Analytical Department