In general, the market stood still rooted to the spot yesterday as expected. This is not surprising since the macroeconomic calendar was completely empty and even politicians did not say anything about Brexit or negotiations between the United States and China on a trade agreement. In short, it will be longing without end.
However, do not be discouraged because we are waiting for solid fun today and it all starts with data on the UK labor market. In fact, almost all indicators should remain unchanged. In particular, we are talking about the level of unemployment and the rate of growth of average wages excluding bonuses but wages with premiums can fairly please investors since their growth rates should accelerate from 3.4% to 3.5%. This means that employees are ready to recycle and give all the best. Consequently, the profit of companies is growing, and some of this profit falls a little to the workers themselves but most importantly, the profit of investors grows much stronger than the income of employees. In general, everything we love. Well, the number of applications for unemployment benefits can be reduced from 27 thousand to 20 thousand. Thus, the pound has every reason to be optimistic and its growth potential is quite good since at the end of last week he did not support the growth of the single European currency and he needs to catch up. But in the United States, the growth rate of industrial production can slow down from 3.6% to 3.2% and this is almost a fifth of the country's economy, which, we agree that it does not add optimism. Although, it has already become great again.
The euro/dollar currency field reaching a value of 1.1323 slowed down and forms accumulation at 1.1300/1.1323, where the upper bound of Fibo 38.2 and the lower level of 1.1300 are situated. It is likely that the current amplitude will be maintained with movement to the upper boundary.
The pound/dollar currency pair continues an ambiguous fluctuation in the range of 1.3050/1.3120, which reduces the volatility several times. It is likely to assume the preservation of the existing amplitude oscillation with a return to the point of 1.3120, where we have repeatedly felt a resistance.
The material has been provided by InstaForex Company - www.instaforex.com