EUR/USD is currently in a consolidation phase, eagerly anticipating vital statistical updates from the US.
The predominant currency pair is maintaining its stability as we move through Friday. The present exchange rate for EUR/USD is situated at 1.0543.
The market is bracing itself for the release of significant economic data from the US. Projections indicate a decline in the unemployment rate to 3.7% in September, down from the previous 3.8%, and an expected increase of 171,000 in non-farm payrolls, following a gain of 187,000 in August. Additionally, average hourly earnings may have risen by 0.3% m/m, following a 0.2% increase in August.
The impact of this statistical data will either bolster the dollar’s rally if it aligns with expectations or lead to a decline if the data proves robust.
US ten-year government bond yields have now stabilized.
The swiftly escalating US national debt has somewhat retreated from the forefront as it has become evident that this growth rate is unsustainable.
The post Euro/Dollar Awaits Economic Figures: Overview for October 06, 2023 appeared first at R Blog – RoboForex.