The euro is stable. Data on wages in the euro area

The single currency remains stable against the US dollar, despite the decline in wages in the euro area in the third quarter of 2017.

• According to published data for the third quarter, annual salary costs rose 1.6%, exceeding analysts’ forecast at 1.4%, but still below the previous level at 2.1%.

Despite this, the pair EUR/USD is trading in a low-key mode in anticipation of new data on the tax reform bill in the US. See “State of the market: the dollar is waiting for the news on tax reform“.

Technical analysis: The pair EUR/USD keeps the movement in a downtrend in the short term. The main support levels are 1,1740; 1.1720. The main resistance levels are the levels of 1,1835; 1.1860.

Fig. EUR/USD. The current price is $ 1.1803.

Alexander Sivtsov