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Hot forecast for EUR/USD on 12/9/2019 and trading recommendation

Today is just a great opportunity to think about things carefully over and comprehend the contents of the report of the United States Department of Labor published on Friday. Indeed, nothing is published at all today and the data on the labor market came out completely different from what was expected.
So, the first thing that catches the eye is a decline in the unemployment rate, which is from 3.6% to 3.5%, although it was expected to increase to 3.7%. This happened largely due to the fact that 266 thousand new jobs were created outside agriculture, instead of the predicted 180 thousand. At the same time, the previous results were reviewed for the better from 128 thousand to 156 thousand. Therefore, we can admit that the worst fears that arose after the publication of ADP employment data clearly did not come true. But naturally, this could not be without negativity, since the share of the labor force in the total population decreased from 63.3% to 63.2%, while many predicted its increase to 63.4%. In addition, the growth rate of average hourly wages slowed down from 3.2% to 3.1%. However, this happened only due to the revision of the previous…

Japan Has Y1,816.8 Billion Current Account Surplus

Japan had a current account surplus of 1,816.8 billion yen in October, the Ministry of Finance said on Monday – exceeding expectations for 1,806.8 billion yen and up from 1,612.9 billion in September. The trade balance reflected a surplus of 254.0 billion yen – also beating forecasts for 138.8 billion yen following the 1.1 billion yen surplus in the previous month. Imports were down 15.3 percent on year to 6,285.9 billion yen, while exports fell an annual 7.9 percent to 6,539.9 billion yen. The capital account posted a deficit of 45.4 billion yen, while the financial account saw a surplus of 879.9 billion yen. The adjusted current account surplus was 1,732.2 billion yen, beating forecasts for 1,731.1 billion yen and up from 1,485.2 billion yen a month earlier. The material has been provided by InstaForex Company – www.instaforex.com…

New Zealand Manufacturing Value Climbs 0.9% In Q3

The value of manufacturing sales in New Zealand was up a seasonally adjusted 0.9 percent on quarter in the third quarter of 2019,. Statistics New Zealand said on Monday – after dipping 0.7 percent in the three months prior. The main industry movements were meat and dairy products, up NZ$169 million (2.0 percent); transport equipment and machinery, up NZ$158 million (5.1 percent); and metal products, up NZ$101 million (3.6 percent). By volume, manufacturing sales fell 0.3 percent after skidding 2.7 percent in the previous quarter. The main industry movements were meat and dairy products, down 4.5 percent; transport equipment and machinery, up 4.8 percent; and metal products, up 3.2 percent. The material has been provided by InstaForex Company – www.instaforex.com…

*New Zealand Manufacturing Value +0.9% On Quarter In Q3; Volume -0.3%

New Zealand Manufacturing Value +0.9% On Quarter In Q3; Volume -0.3% The material has been provided by InstaForex Company – www.instaforex.com…

Oil Futures Rise To Near 3-month High As OPEC Deepens Output Cuts

Crude oil prices rose sharply on Friday after Saudi Arabia and Russia agreed on further output curbs. Positive comments on the trade deal front and upbeat U.S. jobs data contributed as well to oil’s sharp rise. The OPEC and a 10-nation coalition led by Russia called OPEC+ have agreed to deepen oil production cuts in order to prevent oversupply in the market. The new deal agreed upon during the Vienna meet will apply for the first three months of 2020. The move follows the recommendation of the oil exporting countries to deepen the cuts by 500,000 barrels per day to existing 1.2 million barrels per day. The total curb of 1.7 million barrels per day would amount to 1.7% of global crude supply. Saudi Arabia’s energy minister Prince Abdulaziz bin Salman told reporters today that the kingdom’s quota would be an additional 167,000 barrels per day and that it would continue to exceed its quota by 400,000 barrels a day, thus bringing the overall production cut to closer to 2.1 million barrels a day. West Texas Intermediate Crude oil futures for January ended up $0.77, or about 1.3%, at $59.20 a barrel, the highest settlement since September 17. On Thursday,…

U.S. Wholesale Inventories Inch Up Less Than Expected In October

Wholesale inventories in the U.S. crept up by slightly less than expected in the month of October, according to a report released by the Commerce Department on Friday. The Commerce Department said wholesale inventories inched up by 0.1 percent in October after falling by a revised 0.7 percent in September. Economists had expected inventories to rise by 0.2 percent compared to the 0.4 percent drop originally reported for the previous month. Inventories of non-durable goods climbed by 0.7 percent in October after tumbling by 1.3 percent in September, but inventories of durable goods fell by 0.3 percent for the second straight month. Meanwhile, the report said wholesale sales slid by 0.7 percent in October after edging down by 0.1 percent in September. The continued decrease in wholesale sales came as sales of durable goods fell by 0.6 percent and sales of non-durable goods slumped by 0.9 percent. With inventories rising and sales falling, the inventories/sales ratio for merchant wholesalers ticked up to 1.37 in October from 1.36 in September. The material has been provided by InstaForex Company – www.instaforex.com…

U.S. Consumer Sentiment Climbs To Seven-Month High In December

Preliminary data released by the University of Michigan on Friday showed a much bigger than expected improvement in U.S. consumer sentiment in the month of December. The report said the consumer sentiment index climbed to 99.2 in December from the final November reading of 96.8. Economists had expected the index to inch up to 97.0. With the much bigger than expected increase, the consumer sentiment index reached its highest level since hitting 100.0 in May. The current economic index jumped to 115.2 in December from 111.6 in November, while the index of consumer expectations rose to 88.9 from 87.3. Surveys of Consumers chief economist Richard Curtin said nearly all of the improvement in consumer sentiment in December was among upper income households, who reported near record gains in household wealth due to record high stock prices. “Indeed, among households with incomes in the top third of the distribution, their overall assessment of their current finances was the third highest in the past twenty years,” Curtin said. He added, “These gains were aided by declining inflation expectations, with long term inflation expectations returning to an all-time low.” The report said one-year inflation expectations edged down to 2.4 percent in December from…

Surge In U.S. Non-farm Payrolls Lifts Dollar

The U.S. dollar was notably higher against its major trading partners in the European session on Friday, as the economy created much more jobs than forecast in the month of November, supporting hopes for the Federal Reserve to keep policy unchanged when it meets next week. Data from the Labor Department showed that U.S. job growth was in a substantial acceleration in November. The report said non-farm payroll employment surged by 266,000 jobs in November after climbing by an upwardly revised 156,000 jobs in October. Economists had expected an increase of about 180,000 jobs compared to the addition of 128,000 jobs originally reported for the previous month. The unemployment rate edged down to 3.5 percent in November from 3.6 percent in October. The unemployment rate was expected to remain unchanged. The Federal Reserve’s final rate setting meeting of the year is due next week. The Central Bank is expected to keep rates on hold at 1.50-1.75 percent. Investors focused on developments in China-U.S. trade front after President Donald Trump commented that the talks were “moving right along.” Trump’s remarks came after Beijing asserted that some U.S. tariffs should be rolled back as part of an interim deal. U.S. Treasury Secretary…

*U.S. Consumer Sentiment Index Climbs To 99.2 In December

U.S. Consumer Sentiment Index Climbs To 99.2 In December The material has been provided by InstaForex Company – www.instaforex.com…