New Tricks From American Statisticians - 1.11.2012

American indexes concluded the last session in October neutrally. In addition, according to monthly results the market is low: Dow Jones blue chips index lost almost 2,5% of its capitalization. October is statistically considered auspicious month for stocks and September is oppositely the most negative. As we can see, the situation for this year is inverted: the market growth in September was fully neutralized by lowering in quotations for the previous month. The focus today is on the US Labor Market data by ADP. The interest to this release is supported by the fact that the company has changed the methodology for its calculations. According to new method, September data were revised from +162 000 to +88 000 jobs. Commenting these changes, some experts believe that in case the figures from ADP are revised twice, the official data revision of on Friday could be "catastrophic". EUR/USD is traded near the key resistance represented by initial line of Andrews’s pitchfork. Yesterday breakthrough attempt was failed. Keep the focus on the US statistics.

EUR/USD, 4-hours charts