EUR/USD is currently in a consolidation phase, eagerly anticipating vital statistical updates from the US.
The predominant currency pair is maintaining its stability as we move through Friday. The present exchange rate for EUR/USD is situated at 1.0543.
The market is bracing itself for the release of significant economic data from the US. Projections indicate a decline in the unemployment rate to 3.7% in September, down from the previous 3.8%, and an expected increase of 171,000 in non-farm payrolls, following a gain of 187,000 in August. Additionally, average hourly earnings may have risen by 0.3% m/m, following a 0.2% increase in August.
The impact of this statistical data will either bolster the dollar’s rally if it aligns with expectations or lead to a decline if the data proves robust.
US ten-year government bond yields have now stabilized.
The swiftly escalating US national debt has somewhat retreated from the forefront as it has become evident that this growth rate is unsustainable.