EUR Aims for Recovery: Overview for October 05, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSD_5-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="EUR/USD analysis today" decoding="async" style="margin-bottom: 15px;" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR/USD</a> pair is on the path to recovery following a recent downturn.</p>
<p>The major <a href="https://blog.roboforex.com/blog/2020/06/19/how-to-choose-a-currency-pair-for-trading-in-forex/" data-internallinksmanager029f6b8e52c="142" title="Currency Pair">currency pair</a> is showing signs of a rebound as we progress through Thursday. Currently, the EUR/USD exchange rate stands at 1.0522.</p>
<p>A decline in US Treasury bond yields and a dip in <a title="<div class="wpg-tooltip-content"><p>Crude Oil is a natural resource used as a raw material in the refining and petrochemical industries.</p></div>" href="https://blog.roboforex.com/glossary-terms/oil/">crude oil</a> prices were witnessed yesterday. Capital markets are taking a breather, assessing the stability of ongoing trends. The recent US economic data hasn't offered much clarity.</p>
<p>The ADP Employment Report revealed a meager increase of 89 thousand jobs in the private sector for September, falling short of the expected 153 thousand. All eyes are now on the <a href="https://blog.roboforex.com/blog/2019/10/15/trading-news-how-to-make-money-on-non-farm-payrolls/" data-internallinksmanager029f6b8e52c="88" title="Nonfarm Payrolls">NFP</a> report scheduled for Friday, predicting a growth of 170 thousand jobs after a rise of 187 thousand in August. Investors view this report as more influential than the ADP data.</p>
<p>In addition, the ISM PMI for September showed a dip compared to the August report, dropping to 53.6 points from the earlier 54.5 points. This decline was mirrored in new order parameters, plummeting to 51.8 from 57.5 points, marking a new ten-month low.</p>
<p>However, August saw industrial orders surpass expectations, primarily due to increased orders from refineries.</p>
<p>Today, critical economic data is scarce. The market is likely conserving its energy for Friday, anticipating a deluge of employment data.</p>
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