- Euro rebounds and approaches intraday high1.0800。
- U.S.AADPThe weak data has led to a comprehensive decline in the US dollar.
- The pessimistic data in the eurozone has limited the recovery of the euro.
Before the US market opens on Wednesday, the euroWe are recovering some of the decline due to the United States ADP The report shows an unexpected decline in US employment and a mild weakening of the US dollar.
U.S.AADPConfirming that the US labor market is cooling down11 The number of new jobs in the United States increased in the month 103,000 People, far below market forecasts 130,000 People.besides,10 The reading for the month has been estimated from before 113,00 Down to 106,000。
These data confirm that the impact of restrictive interest rates has begun to affect the labor market.However, the impact of the euro on the currency pair has weakened due to sluggish factory orders in Germany and the release of contracting service activity data on Tuesday.
If Friday's Nornfarm The non farm payroll report confirms this view and will exacerbate the possibility that the Federal Reserve may 2024 Speculation of adjusting interest rates starting in the first quarter of the year and adding negative pressure on the US dollar.
However, the broader situation has not changed much.The currency pair maintains a clear bearish trend while being below1.0800and1.0850。On the downside, the support level is1.0750and1.0660。 Technical level worth paying attention to | 
