The main currency pair is slowly falling on Tuesday morning; the market lacks new ideas.
On Tuesday morning, the EUR/USD pair is retreating a little bit. The current quote for the instrument is 1.1386.
There is no significant news at the beginning of the week. The important statistics has already been published and investors continue to assess it. The June readings on the employment market in the USA reported last Friday showed the Non-Farm Employment Change added 223K against the expected number of 179K. At the same time, the April and May readings were revised to better numbers as they added 47K.
The Unemployment Rate went from 4.3% in May to 4.4% in June. In part, this growth can be explained by the seasonal factor. However, the American employment market is looking fundamentally stable.
This is exactly what provided support to the USD earlier. As long as there are no new reports (no significant statistics in the macroeconomic calendar), investors will continue turning to the future possible monetary actions of the Federal Reserve System. CME says that the market expectations of the Fed rate increase is 59%. A week ago, it was 54%. Most likely that the FOMC will decide to revise the rate in December of 2017.
By the way, tonight the FOMC Member, Lael Brainard, is going to speak. Her comments often contain pretty interesting messages for financial markets.
RoboForex Analytical Department