Yesterday's ADP data have pleased the market and led it to believe that tomorrow's report to the US Department of Labor will be better than expected. Today, the dollar will support not only these expectations, but also data from Europe and the United States. In the UK, a slowdown in housing prices from 4.5% to 3.9% is predicted. Given the importance of the real estate market for the UK economy, this will negatively impact the pound. Then there will be final data on the GDP of Europe for the third quarter, which should confirm the fact of accelerating economic growth from 2.3% to 2.5%. However, the single European currency is not particularly able to take advantage of this fact, as it is already taken into account by the market. In turn, the United States expects an increase in the number of initial applications for unemployment benefits from 238, 000 to 240, 000, while reducing the number of repeated applications from 1,957, 000 to 1,908, 000. The total number of applications should be reduced by 47, 000, and, given tomorrow's data on the labor market, we can expect that this will have a positive impact on the dollar.
The euro/dollar currency pair, having approached the periodic level of 1.180, felt temporary support, where it formed a slowdown, but still did not lose bearish interest. Probably assume fluctuations in the range of 1.1775/1.1810, where in the case of fixing the price below 1.1770, further movement to 1.1720 is possible.
The pound/dollar currency pair continues to hold a bearish interest, forming a slight pullback in the market. It is likely that the downward interest will continue, and if the price fixes below 1.3350, will fall to 1.3320/1.3300.
