08, September 2015

Fundamental analysis

EUR/USD (a 4-hour chart)

There was volatile dynamics at the end of the last week. The main event was the US labor market data publication. This release results are always uneven. On the one hand, the Non-Farm index came out worse than the consensus forecast at the level of 173 thousand. On the other hand, the unemployment rate more rapidly reduced as well as the average earnings increased. The dollar came under pressure in recent weeks as the China slowing growth pace prompted investors to temper the first Fed rate increase expectations. The dollar has grown against the commodity currencies that were contributed partially by the oil prices decline.

At the beginning of the new week the euro has grown against the dollar; the pair EUR/USD has increased. Earlier the euro fell to the two-week low against the dollar after the European Central Bank pointed to the current program QE increase possibility and also lowered its growth and inflation forecast. The yen showed its decrease at the beginning of the trading week, the pair USD/JPY started the week with a growth, the pair GBP/USD has increased as well.