The European currency continues to decline against the US dollar, but the British pound, on the contrary, has strengthened its position on the news that Britain can reach an agreement with the EU on the issue of Brexit.
Yesterday, data was published in the afternoon, which showed that consumer lending in the U.S. rose in October. According to the report of the Federal Reserve System, unsecured consumer lending in the US in October 2017 increased by $ 20.52 billion compared with September. The annual growth was 6.51%. Economists had expected a loan growth of $ 17.2 billion.
Today, all attention will be focused on data on the level of unemployment in the US, as well as the number of people employed in the non-agricultural sector. A more modest growth is expected in November compared to October. If the data goes beyond the forecast of 198, 000, we can expect a larger increase in the US dollar in the second half of the day.
As for the technical picture of EURUSD, while the trade is below 1.1775, sellers can expect a further decline in the European currency with the update of large support levels in the area of November 22-23 - 1.1735 and 1.1710. In case of a return to 1.1775, a larger upward correction in risky assets will lead to an update of the level of 1.1810, which was tested yesterday in the afternoon.
The Japanese yen ignored good data on economic growth in the third quarter of 2017. The rise was due to an increase in the companies' capital expenditure amid growing optimism about the recovery of the global economy.
According to the data, Japan's GDP in the third quarter in annual terms increased by 2.5% compared with the previous quarter. Capital expenditures of the private sector increased by 1.1% compared to the previous quarter, while the initial estimate was 0.2%.
The technical picture for USDJPY, after strong growth during the week, has not changed much. The US dollar continues to strengthen, and the pair is gradually picking up to large levels of resistance 113.80 and the main goal of the exit at 114.80, where the sellers in the market will declare.
The British pound continues to win back positions against the US dollar amid news that the British government and EU representatives can come to a unified agreement in negotiations on Brexit. It should be noted that at the beginning of the week the negotiations reached a deadlock. It is expected that British Prime Minister Theresa May will visit Brussels today.
