The main currency pair is “losing weight” on Thursday; the market is waiting for the NFP report.
On Thursday afternoon, the EUR/USD pair is falling. The current quote for the instrument is 1.1732.
Today’s statistics from the USA showed that the Initial Jobless Claims decreased up to 260K over the week after being 272K the week before and against the expected reading of 265K.
The employment market reports will be pretty mixed in the nearest future. On the one hand, the September numbers contain the “hurricane effect”: the sector didn’t create new jobs as fast as before because the business was trying to survive and watching the weather. On the other hand, there can’t be significant declines, because storms were raging only in the Gulf of Mexico.
However, the US NFP report with the September readings to be published tomorrow remains quite intriguing. Average market expectations say that the unemployment didn’t change, at 4.4%, and the NFP increased by 82K in September after adding 156K in the previous month.
So, what happens tomorrow? If the NFP reading matches expectations or is a bit weaker, investors won’t be upset, because they’re expecting something like this. But if the statistics is better than expected, the demand for the USD will grow.
RoboForex Analytical Department