The data on US labor market must encourage players to act decisively
There is practically nothing to say about previous day. Nothing changed. Bears’ attempts to continue euro’s sales ended after publication of American statistics – they were weaker than expected and euro returned again to the level 1.1200, hanging about it for the whole last week. Trade currencies demonstrate the opposite reaction – weak statistics provoked fall of stock and trade platforms, what caused decrease of trade currencies. All in all, everything is as usual on last days.
This week there is the last hope that the market will break out of the vicious circle and show activity. The name of this hope is the report of US Bureau of Labor statistics on labor market for September. For the week, the market has accumulated strength, being in the search. Today we will get the result. The forecast promises number of new work places above 200K, what will indicate retained strength of labor market and that the data for previous month were just a temporary hitch.
As before, we stay out of the market. We don’t see opportunities to open positions. Especially today, against the background of unpredictable non-farm payrolls.
Any opinions, advice, news, research, analyses, prices or any other information presented on this webpage is provided as general market commentary and does not constitute investment advice. "Vector Securities" shall not be liable for any loss, including loss of profit, which may arise directly or indirectly from the use of this information.