No Significant Dynamic From The Single Currency
Euro/Dollar pair has reduced 0.11%, trading at 1.1634. Today, the US will publish ADP Nonfarm Payrolls, ISM Manufacturing PMI and Fed will release its monthly rate statement. Tomorrow, we’ll take a look at unemployment claims. Meanwhile, Donald Trump is supposed to pick the next Fed Chair. The main candidates are John Taylor and Jerome Powell. The President is likely to appoint the second one. Odds for December’s rate hike remain at 96%.
As we already know, the European Central Bank is going to start executing the stimulus program reduction of 30 billion euros per month and prolonged the program. Mario Draghi doesn’t exclude its ending. Interest rates stay at 0.00%. Any hikes are so far unlikely.
Eurozone Consumer Price Index Flash Estimate fell 1.4%, Core Index declined to 0.9%. Preliminary Flash Gross Domestic Product stayed at 0.6%. Unemployment rate reduced to the 7-month minimum of 8.9%.