Even though the US banks did not work yesterday because it was considered holiday in the United States as per celebration of Veterans Day, the dollar was still actively strengthened. And after all in Europe, in turn, no macroeconomic data came out. This is largely due to concerns about European issues mainly on Brexit and the government debts. In the absence of any data, these factors came forth. However, it was unfortunate to say that the presence of such unresolved issues only increases the uncertainty, as investors simply do not understand what will happen next and how they are going to plan their investments.
Nevertheless, today, there are prerequisites for a rebound due to data on the labor market in the UK. And although almost all indicators should remain unchanged, a serious growth of one extremely important indicator is expected. The average wage with premiums has a growth rate of which should accelerate from 2.7% to 3.0%. This means that employees are more efficient to work, in order to receive a bonus, and thus should be able to complete doing their work. As a result, the costs per employee have increased; however, there is no need to hire a new employee, for it will only lead to high staff costs. As a consequence, companies and their investors might need to increase their profits even more. Capitalism is nothing personal given that no data comes out in the United States, and the dollar is quite overbought.
Without looking back, the currency pair Euro / Dollar flew the range level of 1.1300, and went down to 1.1214. It is likely to assume that the speculators' views will subside and a technical correction of 1.1280 - 1.1300 will come to the market.
As presented on the general information background, the currency pair pound / dollar continued the downward movement, going to 1.2825. It is likely to assume that the current pullback will continue which then leads us to the periodic level of 1.12920.
