The major currency pair is declining on Monday. The current EURUSD exchange rate stands at 1.0550.
The global market is escaping risks due to the escalation of a political conflict in the Middle East. Such aggravations primarily boost demand for safe-haven assets, including the US dollar.
The statistics released in the US on Friday have shown that the Federal Reserve has the basis for further interest rate hikes. The unemployment rate remained at 3.8% in September despite expecting a decrease to 3.7%. At the same time, non-farm payrolls increased by 336,000 over the last month, surpassing a forecast of 171,000. Average hourly earnings rose by 0.2% m/m, aligning with expectations.
Such statistics give sufficient grounds for further tightening of monetary policy.
There are signals in the economy that strict monetary policy is working. The US consumer lending volume dropped by 15.6 billion USD, although it should have increased by 11.7 billion USD.
Today, significant statistics in the macroeconomic calendar only include a report on the Sentix investor confidence index in the eurozone for October. The indicator is expected to decrease