EURUSD Insight

4 天前

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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.