06, May 2016

Fundamental analysis

EUR/USD (a 4-hour chart)

The USA statistics was the focus of our attention yesterday (Initial Jobless Claims 274K vs forecast 260K). Today we expect Non-Farm release.

Europe celebrated the Ascension Day and many European Central Banks did not work. Despite the day off the market was volatile and the pairs EUR/USD and GBP/USD decreased.

The UK published Services PMI that fell more than expected (52.3 vs. expectations 53.5).

Friday is the first working day in Japan after the long holidays. We expect a sharp growth of the yen. Even now, when the US stock market decreased, the USD/JPY showed a growth.