EURUSD has reached stability. Overview for 03.10.2022

03.10.2022

The major currency pair is looking rather neutral early in a new week, which is promising to be quite volatile. The current quote for the instrument is 0.9788.

In September, EURUSD lost 2.5%. Also, it has declined 16% since the beginning of 2022.

This week, the US will release new numbers on the labour market. The first September report, ADP Non-Farm Employment Change, will be published on Wednesday and might show 200K after being 132K the month before. On Friday, investors will witness the Unemployment Rate and Non-Farm Payrolls data. The NFP is expected to show 265K after being 315K in August.

Signals from the labour market will be extremely important – they will provide the understanding of how stable the American economy is after the tight monetary decisions introduced by the US Fed.

There is an opinion that the fourth quarter might be quite successful for the “greenback” due to rising demand for “safe haven” asset and additional rate hikes. Still, expectations are rather different. For example, Wells Fargo experts believe EURUSD might drop to 0.9100 by the end of 2022 due to global inflation boost and a decline in consumer and business confidence in Europe.

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