The Euro Retreats: Overview for October 09, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSD_7-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="EUR/USD analysis today" decoding="async" style="margin-bottom: 15px;" /></div><p><a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR/USD</a> is on a decline due to increased investor risk aversion.</p>

<p>The main <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 experiencing a downturn this Monday. The present exchange rate for EUR/USD is at 1.0550.</p>

<p>The global market is moving away from riskier options due to heightened political tensions in the Middle East. Such escalations primarily drive up the demand for safe-haven assets, with the US dollar being a major beneficiary.</p>

<p>The data released in the US on Friday indicates that the Federal Reserve has a strong basis for implementing further <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> hikes. In September, the unemployment rate remained at 3.8%, contrary to the expected drop to 3.7%. Concurrently, non-farm payrolls saw a significant increase of 336,000 over the last month, surpassing the forecast of 171,000. Average hourly earnings also rose by 0.2% m/m, aligning with expectations.</p>

<p>These statistics provide ample grounds for the continuation of a tightened monetary policy.</p>

<p><a href="https://blog.roboforex.com/blog/2019/11/07/economic-indicators-the-basis-for-forex-trading-strategy/" data-internallinksmanager029f6b8e52c="94" title="Economic Indicators">Economic indicators</a> suggest that the stringent monetary policy is having a positive effect. US consumer lending volume dropped by 15.6 billion USD, contrary to the anticipated increase of 11.7 billion USD.</p>

<p>Today, the significant entry in the macroeconomic calendar includes the Sentix investor confidence index report for the eurozone in October. A decrease in the indicator is anticipated.</p>

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