On Friday, the market major is, indeed, happy. The current quote is 1.0510.
Investors keep drowning the USD after the speech delivered this week by the head of the US Federal Reserve System Jerome Powell.
According to CME, the probability of an increase of the interest rate by 50 base points at the meeting on 13-14 December is 75%. This has already been accounted for in by the quotes already. The Core PCE statistics let us count on such an outcome. The indicator has grown by 0.2% m/m after a previous increase by 0.5% m/m.
Deciding upon the interest rate, the Fed uses this very inflation index. As long as it is falling, it can be used as an argument for decreasing the speed of growth of the interest rate.
Also, the pressure on the Fed from everywhere, business and politicians included, should also be taken into account. The crediting price is already very high and is most likely to be even higher. However, it can be increased more cautiously.
Today will be an interesting day. The US is preparing statistics on the labour market for November. It is expected that the unemployment rate will remain at 3.7%; the number of workplaces should extend by 200 thousand upon growing by 261 thousand a month ago. However, in case of any changes, EURUSD will be volatile.