Euro Remains Steady Awaiting ADP Employment Report
The euro shows limited movements versus US dollar today The EUR/USD pair is trading at 1.1337, having lost 0.07% on the day. The single currency has started the week on the positive note, after US and China agreed a temporary tariff truce.
Factory orders in Germany rose in October for the third month in a row, not meeting expectations of a decline. Preliminary data from the Federal Statistical Office showed, that factory orders rose 0.3% in October after rising 0.1% in September (revised from 0.3%). Economists had forecast a decline of -0.4%. On annual terms, production orders decreased by -2.7% in October. Economists had predicted -3.1% fall.
Markets expect the US private sector employment numbers ahead of Friday’s government nonfarm payrolls report. Private payrolls reported by Automatic Data Processing (ADP) are forecast to show 195.000 new employees in November.