02, September 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The US dollar got stronger last Thursday as positive reports increased expectations that FRS will reduce the program of quantitative easing in September.

Gross domestic product of the USA for the 2nd quarter grew by 2.5%. The initial assessment was 1.7%.

Initial Jobless Claims fell on 6 000 during the week. Figures on the labor market are especially significant as FRS is guided by unemployment rate at decision-making. The dollar, respectively, reacted by strengthening to these positive economic data. USD/JPY grew the second day in a row, but remained in the range of last days of 97.00 - 99.00. The pair was closed on 98.30. The dollar / Swiss franc was traded on 0.9309 against 0.9223.

The Syrian conflict and possible attack from the USA on the country, undoubtedly, set the tone in the market, but the published economic data on States were more important all for investors. In this context the dollar remained under pressure against the majority of currencies, but thus it was in demand in pairs with yen, commodity currencies and currencies of developing countries. The rumors about impressive demand for dollar for the end of month weren't confirmed.