Euro Stays Above $1.16 Level

Forex News

The euro exchange rate against the US dollar declined during today's session. The euro/dollar pair fell by 0.09% and is trading at 1.1644. Data on the US employment will be at the center of attention of the markets today. It is expected, that the number of jobs in the non-agricultural sector of the US increased by 311 thousand, while the unemployment rate remained unchanged at 4.2%.

A strong manufacturing sector has been an important factor in the stronger Eurozone economy. Data on the Manufacturing PMI continue to point to an expansion at the beginning of the fourth quarter. The Eurozone Manufacturing PMI accelerated for the third consecutive month and totaled 58.6. The German Manufacturing PMI was 60.6, which is the highest since April 2011.

As expected, the US Federal Reserve left interest rates in the range from 1.00% to 1.25%. The Fed pointed out that the interest rate increase remains very likely at the December meeting.