In the Forex market is still dominated by a tendency to weaken the U.S. currency

Written by admin on September 7th, 2009

In the Forex market is still dominated by a tendency to weaken the U.S. currency. Last Friday, the focus of players was a report on the labor market in the U.S., who presented some surprises. Thus, in particular, the unemployment rate in the country in August showed the growth to a mark of 9.7% - the highest for the past 26 years. The data came out worse than forecast, predicting growth to only 9.5% to 0.1% from July. In general, the report was rather disappointing, and therefore, selling the dollar on Friday once again intensified, and the euro to close slightly above 1.43.

Regarding the future prospects of the U.S. economy - and here is all too ambiguous. As expected, the positive that prevailed in the macroeconomic news and the mood of the players, some real progress ahead of the restoration of the largest economies. Of course, many questions is precisely the U.S. labor market, because if we consider that the recession was supposed to end in June, then the labor market indicators in the country already must improve. Nevertheless, the fact remains - employment in the United States continues to fall.

In today's trading the euro once again dominates. States celebrates Labor Day, so the couple is traded on the inertial dynamics. Nevertheless, we note that the data came out today on volumes of factory orders in Germany for July, which proved to be better than his forecasts: 3.5% m /m against 2.0%, figures have euro support. However, the figure still showed negative dynamics of the last period, when the increase in orders was 4.5% m /m.

new week should not teach any surprises that, in particular, is associated with a small number of important upcoming events. One can assume that the focus of the players this week will be Beige Book that the Fed will release on Wednesday, and Friday and the European macroeconomic overview.

pair euro /dollar is likely to continue trading in the current multidirectional corridor between 1.40 and 1.44.

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