Fundamental analysis
03 September, 2021
During Asian trading, the British pound weakened against the dollar. 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. The UK and the EU remain at loggerheads over the (post-Brexit) Protocol on Northern Ireland. 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 around 08:30, the pound is exchanged for 1,3828 dollars, which represents a strengthening of the British currency by 0,06% 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.
