08, January 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The main opponents of the dollar in the beginning of the week could regain some of their lost positions. Two factors have impacted to the euro growth, the short positions closing during the European session and the weak ISM index data in the United States. During December ISM employment index for the services sector recorded strong growth, it can have a positive impact on the report on Non-Farm Payrolls, which will be released on Friday. The euro/dollar ended the trading day above 36 figure. This is a good factor for bulls.

Investors were again disappointed by macroeconomic statistics in Britain. In December PMI index showed a decrease for the services sector recorded over the last six months, these are the lowest values. In this regard, the pair GBP/USD fell, reaching 1.6339, but after closing short positions the pair ended the session close to 64 figure.

Japanese investors returned to the market after long vacation, they started selling the dollar/yen with great zeal. The Japan Statistics has not been published yet. The pair was supported by weak U.S. ISM data and quotes fell below 104 figure.