07, June 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The U.S. dollar did not give up its positions against the euro on Wednesday after the federal report said that the economy grew at a "modest and moderate" pace since mid-April.

Fed's Beige Book - a report prepared on the basis of discussions with the business climate, "- said that consumer spending and housing continued to show signs of strengthening.

U.S. report showed that American companies new employment hiring was weak in May, increasing the risk that today non-farm payrolls may disappoint traders.

The fact that the Japanese Prime Minister Shinzo Abe, has not announced new bold steps to boost the economy (the speech on Wednesday) has led investors to close bearish Yen positions.

Some analysts believe that the Fed may start reducing purchases of assets at the end of the year and the ADP forecast of the number of jobs does not change the situation dramatically.