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Key Points
- U.S. employment data shock: Nonfarm payrolls increased by only 12,000 in October.
- The weak U.S. employment data is attributed to the effects of a hurricane and the Boeing strike.
- The market anticipates it will be challenging for the Fed to avoid a 25 basis point rate cut in the November FOMC meeting.
- Germany’s October CPI rose 2.0% year-on-year, rebounding after three months.
- The Eurozone’s October CPI also increased by 2.0% year-on-year, exceeding the forecast of 1.9%.
- The U.S. September Personal Consumption Expenditures (PCE) price index rose 2.7% year-on-year, surpassing the forecast of 2.6%.
Major Economic Indicators
- November 5: Reserve Bank of Australia rate decision, U.S. presidential election
- November 7: Bank of England rate decision
- November 8: FOMC meeting results
EUR/USD Trend Analysis
The Euro appears to have successfully rebounded from the lower support level. This upward trend is expected to reach the 1.10000 line. In the long term, a rise to the trend high of 1.14000 is anticipated; however, resistance at the 1.10000 line may lead to a short-term pullback.
If, contrary to expectations, a stronger downward move occurs and breaks below 1.07500, the price may fall to the 1.04500 line, in which case a new strategy will be quickly established.
Key Points
- U.S. employment data shock: Nonfarm payrolls increased by only 12,000 in October.
- The weak U.S. employment data is attributed to the effects of a hurricane and the Boeing strike.
- The market anticipates it will be challenging for the Fed to avoid a 25 basis point rate cut in the November FOMC meeting.
- Germany’s October CPI rose 2.0% year-on-year, rebounding after three months.
- The Eurozone’s October CPI also increased by 2.0% year-on-year, exceeding the forecast of 1.9%.
- The U.S. September Personal Consumption Expenditures (PCE) price index rose 2.7% year-on-year, surpassing the forecast of 2.6%.
Major Economic Indicators
- November 5: Reserve Bank of Australia rate decision, U.S. presidential election
- November 7: Bank of England rate decision
- November 8: FOMC meeting results
EUR/USD Trend Analysis
The Euro appears to have successfully rebounded from the lower support level. This upward trend is expected to reach the 1.10000 line. In the long term, a rise to the trend high of 1.14000 is anticipated; however, resistance at the 1.10000 line may lead to a short-term pullback.
If, contrary to expectations, a stronger downward move occurs and breaks below 1.07500, the price may fall to the 1.04500 line, in which case a new strategy will be quickly established.
네이버 카페 :
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
네이버 카페 :
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.