08, May 2015

Fundamental analysis

EUR/USD (a 4-hour chart)

The pair EUR/USD was in demand amid the April ADP private sector employment weak data. The index came out at the level of 169 thousand which is the lowest level since January 2014. However, the pair euro/dollar had decreased.

The GBP/USD has grown after the UK service sector business activity strong data publication. Then the pair consolidated. The final indicator came out at the mark of 59.5 that is the highest level since September 2014. This week the main attention within the pound will be paid to the UK elections which took place yesterday.

After the ADP weak data the US stock market sales have increased pressure on the pair USD/JPY. Yesterday the Japan markets started to work after a long weekend this week. By the end of the day the pair had increased.

Today we expect the report for which the market has been waiting the whole week: the US April Non-Farms release. In addition, the US will release the unemployment rate report. Both reports, along with the UK elections results will cause high volatility in the market.