The main currency pair of the Forex market is consolidating in the area of 1.1800 and now there are two multidirectional factors that will influence the course of trading. On the one hand, this currency pair may show a slight decline against the background of positive statistics from the United States on the labor market.

The number of Americans filing new jobless claims fell to a 16-month minimum last week. About 9.5 million people are officially unemployed, 6.7 million of which are in the private sector. The labor market situation is improving, but still far from the pre-coronavirus level. On the other hand, strong demand in the industrial and precious metals market may support the euro, inasmuch as assets are correlated with each other.

Trading recommendation: flat 1.1755 – 1.1850.