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A German industry report showed a new drop in the output of -1.7% for October, due to this, analysts expect growth. Nonetheless, this did not weaken the mood of euro buyers for growth, as you can see in the chart above and this also means a good signal for the bulls.
The official report on US employment on the nonfarm payrolls for the month of November will be released at 08:30 UTC -5 today. Experts predict a good report of 180K and this is somewhat surprising since just two days ago a private report from ADP showed the growth in the number of jobs is very low with only about 67K by as much as 100K less than the forecast. Which gives us all the more reason to see the news.
In the old times of the "early history of the euro", the EURUSD rate for the nonfarm went rapidly from 100 points up to a 4-digit in just 1-2 hours after the release of the data, where a large number of traders made good money on these movements.
At one point, that fed up with then-legendary Fed head Alan Greenspan where he said "This indicator is overvalued by the market" and the movements became noticeably less.
But finally killed the nonfarm, as the introduction of a report from ADP directly hit in front of the nonfarm. We don't see such strong movements on the report from ADP as before but we also encounter strong movements on nonfarm much less than often. And we could only hope that something will come out.
EURUSD:
We keep purchases from 1.1035, we expect a break up to 1.1115 and 1.1180 and look at the closing of the day and week.
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