EUR/USD Fundamental analysis
The EUR/USD trading was within a narrow consolidation. The traders are waiting. The employment release went worse then the median forecasts - 209 thousand new jobs were created in the United States in July, thus the unemployment increased by 0.1%.
However, the Non-Farm figure has been above the key level of 200 thousand for 6 consecutive months which tells us about the strong economic growth. Also the hourly wage has not shown any growth that combined with the reduction in personal spending will act as a deterrent to inflationary pressures. The sales seen in the GBP/USD pair amid the weak macroeconomic statistics, as well as the cross-rate euro/pound strengthening.
The PMI manufacturing sector UK shows the reduction third month in a row that has provoked the British pound strong sales against the U.S. dollar and the single European currency. At the moment the quotation fell to 1.6815, but then the consolidation was started. The bears triumph on the world's leading stock markets together with the moderately negative employment release in the United States led the bulls begin to take the profits on the long positions in the USD/JPY after 2 weeks of the growth. At the moment the quotation fell to 102.30, but in this area there was a demand for the U.S. dollar which allowed the bulls to recover some lost positions.