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Old 05-11-2019, 11:55
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KostiaFM KostiaFM is offline
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Default Re: Daily Market Analysis by ForexMart

EUR/USD Daily Analysis: November 05, 2019

The dollar received significant support after the release of Friday data from the US. Labor market statistics exceeded all expectations of market players, which eased concerns about the upcoming recession in the United States. In October, the number of new jobs increased to 128 thousand, while experts predicted growth to just 85 thousand. The ISM business activity index also recovered slightly (48.3 points in October against 47.8 in September).

This week is not rich in macroeconomic data, but today the ISM Service Sector Index can attract attention (at 18:00 Moscow time). If the indicators are at quite stable levels, this may support the dollar in the coming days.

Thus, the EUR/USD pair fell on Tuesday to the level of 1.1125. The dollar feels confident, therefore, during the day, the strengthening of the US currency will continue. The main goal of the dollar “bulls” is the 1.1100 area.
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