News of the day. November 08, 2013

November 8, 2013

The most important news for today is US labour market statistics. Non-Farm Payrolls and October unemployment rate will be published.

As you may remember, September Non-Farm Payrolls were disappointingly low. In addition to the recent budget crisis this fact plants doubts in investors’ minds that the QE3 program won’t be cut this year.

Forecasts for today’s indicator are also unfavorable: new jobs should decrease to the level of 125 000. However unemployment claims were reducing this October from 374 000 to 340 000. These numbers bring hope that Non Farm-Payroll forecast may be understated.

Unemployment level should change a little, from 7.2% to 7.3%, though whole year this index was falling.

Regarding fundamental data we expect high volatility of the EUR/USD. If experts are right, the pair will rise up to the level of 1.3475, otherwise we will witness fall down 1.3330.

Dmitriy Zolotov

Analist of LiteForex Group of Companies

Publication source
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