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02.03.202323:55 Forex Analysis & Reviews: EURUSD under pressure

Exchange Rates 02.03.2023 analysis

EURUSD

The euro declined under pressure from strong U.S. labor market data.

U.S. jobless claims have remained at record lows of 190,000 for many weeks, which is below the 200,000 level.

The number of long-term unemployed is steady at 1.65 million.

Labor costs have risen above the +3% forecast, a new argument for the Federal Reserve to keep raising rates.

Expectations of a Fed rate hike are weighing on the euro - even despite the European Central Bank's promise of a rate hike on March 16.

Nevertheless, the euro's growth is not over yet - only a break of last week's low will solve the issue. Until then, let's keep buying.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Jozef Kovach,
Analytical expert of InstaSpot
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