Single Currency Remains Calm
Euro/Dollar pair lifted 0.24%, trading at 1.1647. German Final Manufacturing PMI stayed at the 6-year maximum of 60.5. Eurozone Final Manufacturing PMI rose to 58.5. German Unemployment Change fell 10K. Eurozone economy remains strong. US will feature unemployment claims and tomorrow we’ll take a look at Average Hourly Earnings, Nonfarm Payrolls, unemployment rate and ISM Nonfarm Manufacturing PMI.
Yesterday, Federal Reserve has released its monthly rate statement. As expected, members stood pat, saving the rate 1.25%. Nonetheless, they lifted growth projections. December rate hike is still in store with odds standing at 96%. Meanwhile, today 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.