The Euro remains weak. Overview for 04.04.2022

EURUSD continues falling; investors are assessing risks.

The major currency pair is falling early in the week. The current quote for the instrument is 1.1022.

Not as if sales in EURUSD were very active, but bears are very consistent. Investors are watching risks and so far, assessing them as quite global. 

Last Friday’s statistics on the US labour market were in favour of the USD. The Unemployment Rate dropped to 3.6% in March, which is better than expected, after being 3.8% in the previous month. The Average Hourly Earnings added 0.4% m/m and matched market expectations. However, it wasn’t surprising – preliminary data was raising such a possibility. 

However, the Non-Farm Payrolls showed only 431K in March after being 750K (revised data) in February and against the expected reading of 492K. The March reading might have upset market players but the revised February data eliminated this stress. 

The US labour market remains stable and follows its course. It’s good news for the “greenback”.

This week, investors should pay attention to the FOMC Meeting Minutes to be published on Thursday. the document is highly unlikely to offer any new information but market players would love to hear confirmations of the data announced earlier. If the document matches their expectations, it might support the USD.