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Will Eurozone data outshine U.S. data? (October 30- November 3)

  

 

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EUR/USD currency pair might rise in the first part of the week, according to preliminary estimates. This is because Eurozone GDP might rise at 2,3% year-on-year (actual 2.1% year-on-year) and the Consumer Price Index might rise at 1.6% year on year (actual 1.5% year-on-year).

However, a stream of positive data on the U.S. economy might continue to flow in, at the end of this week. The EUR/USD pair might assume a bearish bias after the release of the U.S. data.According to the analysts estimates, U.S. ADP might add 200k and NFP might add 310k new jobs. The unemployment rate is expected to remain unchanged at 4.2%.

October 31 page 001

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