The Euro is sticking to its two-month lows. Overview for 28.09.2020

28.09.2020

The situation in EURUSD hasn’t significantly changed by Monday; the Euro remains weak.

The major currency pair continues falling on Monday afternoon. The current quote for the instrument is 1.1630.

Today’s macroeconomic calendar is empty but there will be a lot of interesting things this week, from speeches delivered by the US Federal Reserve and Federal Bank members to different statistic reports. 

A lot of attention will be paid to political wrangling: the presidential race is about to be over soon, so the time has come for many outstanding debates and market reactions to them. The USA has two open issues, China with its eternal trade wars, as well as possible complications and additional sanctions towards Russia. Comments on any of these issues may force local capital markets to move more actively. 

As usual, the beginning of the month (Friday to be exact) is the time to focus on the US labor market. September may show that the positive impulse, which eliminated some crisis with jobs and labor force that took place in spring, is currently on the decline and might have led to some slowdown in improvements. The numbers will show. There might probably be some tiniest decline in unemployment, which is a pretty demonstrative signal meaning that the economy requires an additional stimulus package. Moreover, one shouldn’t exclude a smaller than predicted growth in the NFP.

The quieter the US debates and the statistics, the better for the USD. The American currency is already doing fine as a “safe haven” asset while the world is expecting the second wave of COVID-19, which is obviously taking quite a visible shape. 

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.