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Jan-11, 2022, EURUSD currency trading technical analysis and forecast
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[QUOTE="Somrat4030, post: 203801, member: 43126"] EURUSD is making another attempt to rise; investors are interested in risk attitude. The major currency pair is looking up on Tuesday. The current quote for the instrument is 1.1337. The statistics published yesterday showed that the Sentix Investor Confidence in the Euro Area reached 14.9 points in January after being 13.5 points the month before. It's good news. The Unemployment Rate in Europe was 7.2% in November against 7.3% in the previous month. The US Fed Chairman Jerome Powell is scheduled to speak later today. At the same time, the Senate will have a hearing to extend his tenure as the Chairman for the second term. So, what can Powell tell market players they don't know yet? Probably nothing. However, he might talk about the monetary tightening again. First of all, investors are interested in any hints at this year's first rate hike. Moreover, Eurozone's macro statistics published yesterday failed to give the euro any significant support – the unemployment data here declined by 0.1%, reporting to 7.2% in November, and the Sentix investor confidence indicator in January rose from 13.5 to 14.9. But yesterday's EUR/USD volatility was almost 75 points (in a 4-digit quote) and was about the same as last Friday when the key monthly data from the US labor market was published for the Fed. The US dollar fell sharply at the end of last week, as the NFP did not meet the expectations of the market and was well below the forecast. As already known, the number of new jobs created outside agriculture amounted to 199,000 in December, against the expected increase of +400,000. Nevertheless, other data from the Ministry of Labor's report turned out to be very positive. The unemployment rate fell to a new pandemic low, namely to 3.9% in December from 4.2% in November. At the same time, the average hourly wage increased by 0.6% with a forecast of +0.4%. The growth of Americans' salaries was +4.7% in annual terms. The data indicate a shortage of employees, and in order to keep them, employers are more willing to increase their salaries, which leads to an acceleration of inflation. [/QUOTE]
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Jan-11, 2022, EURUSD currency trading technical analysis and forecast
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