Analysis

Against the general weakening of USD, the pair EUR/USD rose to the level of 1.1411

USD is declining against most majors due to yesterday's ambiguous statistics from the US. ADP Nonfarm Employment Change reduced to 179K in November from 225K a month earlier.

Trade balance declined to –55.50 billion dollars in October from –54.60 billion a month earlier. Initial Jobless Claims turned out worse than expected and amounted to 231K, while analysts predicted the decline to 226K. A week earlier, the figure was 235K. Services PMI grew to 54.7 points in November from 54.4 points a month earlier. Today, investors are waiting for the publication of US labor market data. Statistics on Nonfarm Payrolls, Unemployment Rate and Average Hourly Earnings are due at 15:30 (GMT+2). According to forecasts, the Unemployment Rate can remain at the same level of 3.7%, while Nonfarm Payrolls may decrease from 246K to 200K. Average Hourly Earnings is expected to rise to 0.3% in November from 0.2% a month earlier.

EUR/USD

Against the general weakening of USD, the pair EUR/USD rose to the level of 1.1411. However, during the Asian session, it corrected to 1.1365. Today, market participants are waiting for the release of the data on the euro area's GDP (12:00 GMT+2). It is expected that the indicators will remain unchanged. In quarterly terms, GDP growth will be 0.2%, and in annual terms it will be 1.7%.

GBP/USD

The GBP/USD pair grew to the level of 1.2764. Against the background of the lack of significant releases from the UK, investors are waiting for news from the United States, and also are monitoring the development of the situation around Brexit. The final vote on this issue will be held on December 11.

USD/JPY

The USD/JPY pair today rose to 112.89 during the Asian session. Due to the absence of important releases in Japan, the movement of the instrument is technical.

AUD/USD

Quotes of the AUD/USD pair are moving within the narrow range of 0.7209–0.7221 having changed slightly during the Asian session. Investors are waiting for data on the US labor market.

Gold

Gold prices corrected downwards to 1238.28.

 

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