EURUSD managed to recover. Overview for 05.09.2019

On Thursday afternoon, the major currency pair intends to be correcting and looks quite stable. 

EURUSD managed to recover some losses it suffered earlier. The current quote for the instrument is 1.1022.

The tension was relieved a little bit by global news. First of all, it became known that the extradition law, which caused great tension in Hong Kong, was scrapped. Second, Italy achieved progress in creating a new government, which is also quite good. Thirdly, the probability is increasing that Christine Lagarde may become the next Governor of the European Central Bank. Yesterday, she said that the regulator needed a soft monetary policy, but it’s important to monitor its “side-effects”.

At the same time, China reported on the Caixin Services PMI, which improved in August, thus reducing global fears of slowdown in the Chinese GDP. 

In general, market sentiments reached stability, more or less. And this, as a result, affected “safe haven” assets, such as the USD and the Japanese Yen. 

Today, one day in arrears, the USA is going to publish the ADP Non-Farm Employment Change report for August, which is expected to show 148K after being 156K in July. However, all key numbers on the US labor market will be published on Friday. That’s when EURUSD is expected to become more active.