EUR is going up. Overview for 10.01.2023


The market major continues growing. The current quote is 1.0740.

The EUR is supported by the interest to risk and the weakness of the US currency. The market is selling the dollar because globally investors are overvaluing the prospects of further actions of the Federal Reserve System.

Market players have several important releases at hand, from the minutes of the December meeting of the Fed to the NFP reports. The labour market is full of energy and may afford to create workplaces and increase wages. However, the loss of momentum in the average wage parameters makes investors think again that the Fed could quit tough monetary policy.

No doubt that the steps of the Fed in the upcoming months will be strategically important. Investors, indeed, believe that the regulator is ready to wind up its tough monetary policy. And here, the USD turns out under serious pressure.

Yesterday, the Euro zone presented quite neutral statistics. The unemployment rate remained at 6.5%. The Sentix CCI index improved to -17.5 points.

Source: Roboforex

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