Fundamental analysis
03 September, 2021
During the Asian trading, the euro confirmed earlier gains against the dollar. The currency pair is on an upward trend because hawkish comments of individual members of the European Central Bank contribute to the strengthening of the euro, at a time when the dollar has its reasons for weakening. Yesterday, the ADP hinted that the report from the American labor market on Friday could be much worse. In the USA, only 374.000 jobs were added in the private sector, which is much lower than expected. At around 08:30, the euro is exchanged for 1,1875 dollars, which represents the strengthening of the common European currency by 0,02% since the beginning of trading last night. At 2:30 p.m. a regular NFP report from the U.S. labor market for August will be released. The unemployment rate is expected to slip from 5.4% to 5.2% and expectations for the number of newly created jobs stand at 750,000.
