On Monday, the major currency pair is slowly growing; investors’ sentiment is rather neutral.
EURUSD is rising a little bit and looking rather neutral at the beginning of another April week. The current quote for the instrument is 1.1224.
Last Friday, the USA published a lot of important macroeconomic numbers. First of all, the Non-Farm Employment Change: it was 196K in March, better than market expectations of 172K. At the same time, the previous reading was revised upwards, from 20K to 33K. The Average Hourly Earnings turned out to be an unpleasant surprise, because the indicator added only 0.1% m/m after expanding by 0.4% m/m the month before. It means that employers are no longer fighting for the manpower due to a mixed picture in the country’s economy.
Also on Friday, the US President Donald Trump reminded about his stance on the FOMC strategy relating to the benchmark rates by saying that the regulator should decrease the rate at once. Apart from this, Trump was sure that the FOMC had to take special measures in order to relieve the economic pressure.
Today’s macroeconomic calendar is not too busy with important events: there are several reports worth paying attention to, but in general, everything is quite calm.
In the morning, the Euro Area will report on the Sentix Investor Confidence in April, which is expected at 1.7 points after being -2.2 points in the previous month. As a rule, EURUSD pays little attention to this indicator.
In the evening, the USA are scheduled to report on the Factory Orders in February. The indicator is expected to lose 0.5% m/m after adding 0.1% m/m in January. On the one hand, the report will contain some reading that are already known, such as durable goods. On the other hand, there will be information about stock inventories, a leading indicator. In general, the indicator is pretty neutral, unless there are some really significant fluctuations in it.