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Dollar unsurprisingly weakened as employment in the US increased by only 89,000, instead of the forecast of 160,000. It started falling right from the opening of the trading session, primarily due to the forecast itself.
To maintain labor market stability, employment should grow by more than 200,000 per month. It may grow less, but in the next month, it should increase much more. However, in the US, employment continues to grow at insufficient rates.
If not for the data in Europe, dollar will certainly weaken more. According to the report, the pace of retail sales decline in the region accelerated from -1.0% to -2.1% against a forecast of -1.4%.
Dollar also remains overbought, so despite the completely empty macroeconomic calendar today, it may continue to lose its position. And even if the data on jobless claims comes out, it will not have any impact as its changes will not be very significant. Unless, of course, the actual data matches the forecasts.
EUR/USD bounced back after another cycle of decline. This resulted in the partial rise of euro, in which it managed to climb above 1.0500 despite the oversold conditions. Staying over this level may lead to further strengthening, while a resumption of the speculative downward sentiment will bring the pair below 1.0470.
GBP/USD also bounced back, pushing the quote above 1.2150. Staying over this level will lead to further strengthening, while a resumption of the bearish sentiment will bring the pair to the upper boundary of the psychological level at 1.2000/1.2050.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
