• European session review: the US dollar depreciated significantly

Noticias del mercado

10 agosto 2016

European session review: the US dollar depreciated significantly

The following data was published:

(Time / country / index / period / previous value / forecast)

6:45 France Industrial Production m / m in June -0.5% 0.2% -0.8%

The euro has appreciated considerably against the US dollar, updating August highs. Experts point out that the US currency depreciates against the background of low markey activity associated with the period of the summer holidays. In addition, pressure on the dollar still have yesterday's disappointing data on labor productivity in the US. Today futures on interest rates suggest that the market priced in a 15% probability of a rate hike in September and a 40% probability in December.

Gradually, investors' attention shifted to the American statistics on the level of vacancies and labor turnover in the United States. Recall, a significant reduction was recorded in May, which coincided with a weak NFP. It is expected that in June JOTLS job openings rose to 5.57 million after an increase of 5.5 mln. In May.

The pound resumed growth against the dollar after a small correction. However, analysts say that taking into account the previous active sales of the British currency a few weeks of downside risk will remain.

Investors also drew attention to the Bank of England study, which reported that the recent results of the referendum have a negative impact on capital spending, hiring and turnover within the next year. "The data showed that consumer spending growth continued to decelerate. Consumer caution has increased before and after the referendum, and the turnover in the business services sector has continued to decrease. In addition, service providers activity is revised to the downside, referring to the increase in uncertainty. Plans for employment in the business services sector were also reduced and total labor costs increased slightly in the production sector, but little has changed as a whole ", -. the bank said. It is worth emphasizing that this survey was conducted among 270 enterprises in the period from late June to late July.

EUR / USD: during the European session, the pair rose to $ 1.1190


GBP / USD: during the European session, the pair has risen to $ 1.3092


USD / JPY: during the European session, the pair fell to Y101.00

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