03.12.202407:30 Forex Analysis & Reviews: Hot Forecast for EUR/USD on December 3, 2024

Instead of rising from 6.3% to 6.4%, the Eurozone unemployment rate remained unchanged. However, this did not impact the market, and prices stayed flat. This is partly due to news from France, where a full-fledged political crisis is emerging. After the prime minister bypassed parliament to push through a law on additional social spending, left- and right-wing parties are ready to unite and issue a vote of no confidence in the government, which naturally does not add optimism for the euro.

Developments in France will be a key factor in today's trading. This is mainly because the only noteworthy macroeconomic data will come from the United States, specifically the report on job openings. Otherwise, the economic calendar is empty. However, the job openings data is unlikely to impact the market significantly, as it provides limited insights for long-term conclusions.

The expected reduction in job openings by 63,000 doesn't convey much information. This decline could result either from higher employment or from reduced job opportunities.

*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.

Dean Leo,
Analytical expert of InstaSpot
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