06, December 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The U.S. dollar rose on Wednesday versus commodity currencies, fell versus the yen and was changed a little versus the euro and the pound - amid the conflicting statistics. The dollar rose after strong ADP Non-Farm Employment Change, but then lost all growth due to low Services PMI for most part of the economy.

Euro hardly reacted to a weak retail sales report, which fell in October by 0.2 % m/m, against expectations of a 0.1% growth. The final Services PMI of the eurozone dropped in November less than expected to 51.2 etc. - against the preliminary estimate of 50.9 and 51.6 p. a month earlier. But slightly better then we expected were the final data in Germany - France and Italy indices went worse than expected.

The pound traded lower amid low UK Services PMI activity, which decreased from 16-year highs much more than expected, but then played decline. PMI fell in November to 60 from 62.5 p. in October - while traders expected a decline only by 62 p.