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03.12.202407:30 Forex Analysis & Reviews: Hot Forecast for EUR/USD on December 3, 2024

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Instead of rising from 6.3% to 6.4%, the Eurozone unemployment rate remained unchanged. However, this did not impact the market, and prices stayed flat. This is partly due to news from France, where a full-fledged political crisis is emerging. After the prime minister bypassed parliament to push through a law on additional social spending, left- and right-wing parties are ready to unite and issue a vote of no confidence in the government, which naturally does not add optimism for the euro.

Exchange Rates 03.12.2024 analysis

Developments in France will be a key factor in today's trading. This is mainly because the only noteworthy macroeconomic data will come from the United States, specifically the report on job openings. Otherwise, the economic calendar is empty. However, the job openings data is unlikely to impact the market significantly, as it provides limited insights for long-term conclusions.

The expected reduction in job openings by 63,000 doesn't convey much information. This decline could result either from higher employment or from reduced job opportunities.

Dean Leo
Analytical expert of InstaForex
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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