EUR/USD continues higher as Rajoy speaks again, JOLTs miss


Everything is going in favor of EUR/USD: the situation in Spain seems to calm down and a US figure misses expectations.

The pair has already reached a high 1.1857, extending the gains that were driven by Puigdemont’s speech yesterday. Resistance awaits at 1.1860 and 1.1940. Support is at 1.18 and 1.1760.

In Spain, PM Mariano Rajoy made a short statement in which he gave an ultimatum to the Catalan President: clarify if you have declared independence and if so, the next step will be a suspension of the autonomy. So far, Puigdemont offered to negotiate “without conditions” but did not clarify the issue of the independence.

And now, Rajoy is speaking again in the Spanish Parliament in Madrid. He lays out his version of the events from 2012 and focusing on the most recent events.

The streets are quiet in Barcelona and it seems that people are getting tired of the conflict. This helps the IBEX rise, and the euro as well.

JOLTs miss

The JOLTs job openings are somewhat lagging but still remain of importance as the Fed mentions it. It came out at 6.082 million, slightly lower than 6.135 million. The level still remains high and above the historic average, but a miss is a miss and nudges the dollar a bit lower.

The level of quits is 3.124 million, also slightly lower. The level of quits is seen as a sign of confidence: people leave their jobs when they find better and/or higher paying jobs.

Bigger events await the greenback: inflation, retail sales and today’s Fed meeting minutes. The event can provide hints about the timing of the next rate hikes, even though it seems quite clear that Yellen will hike in December.

More: What can we expect from the Fed minutes?

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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