The Euro edged lower against the American counterpart on the US reports showing an increase in non-farm productivity. Then, the release of details about the Trump's tax reform strengthened the EUR/USD pair, where the Greenback lost 0.29% or 34 base points against the Euro, but continued a side move at the 1.1660 level. In addition, the reaction on the announcement of the Fed nominee was muted, when it matched expectations for Jerome Powell to be the next chairman.
The Labour Department said that the US worker productivity grew 3.0% year-on-year in the Q3, the fastest growth pace in nearly three years, which fuelled diminishing of labour costs. But, data pointed to the US growth to be sustained, keeping the chances for the Fed rate hike.
| Historical Data Table: US Non-Farm Productivity (preliminary) | Economic Calendar for 03.11.2017 | ||||||||
| Date | 03.10.2016 | 02.02.2017 | 04.05.2017 | 09.08.2017 | 02.11.2017 | 12:30 PM | Canadian Unemployment Rate | ||
| Actual | 3.1% | 1.3% | -0.6% | 0.9% | 3.0% | 12:30 PM | US Non-Farm Employment Change | ||
| Forecast | 1.7% | 1.0% | 0.1% | 0.7% | 2.5% | 2:00 PM | ISM Non-Manufacturing PMI | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/USD | 0.77031 | 0.77053 | 0.03% | AUD/USD | 56.69% | 43.31% | |||
| EUR/USD | 1.16592 | 1.16539 | -0.05% | EUR/USD | 45.44% | 54.56% | |||
| USD/JPY | 114.151 | 114.137 | -0.01% | USD/JPY | 41.87% | 58.13% | |||
| NZD/USD | 0.69043 | 0.69073 | 0.04% | NZD/USD | 55.90% | 44.10% | |||