10, September 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

Employment report was weaker than expected, and in spite of the fact that the unemployment rate fell in August, it left no doubt about the Fed's plan to begin narrowing in September. Experts disagree in their opinions. Some of them say that there won't be any restrictions, others believe that the Fed will cut the purchase of assets. In any case, we are more interested in the question of not when, but by how much. Now the consensus is about $ 10 billion of cuts in the Fed's bond-buying program. However, this is not enough for market shock, since this probability is already taken into account. While the labor market is disappointing, the Syrian conflict is fueled by risk aversion. Investors are also concerned about the Syrian issue, as Russian President Vladimir Putin added uncertainty after the announcement that Russia will support Syria in the event of an attack, and Barack Obama confirmed that the U.S. is ready to attack today, tomorrow or the next month.

Oil rose in price. Meanwhile, EUR/USD recovered after losing almost everything after the ECB announcement, being up from 1.3104 to 1.3250. GBP/USD jumped to 1.57, its highest level since August 21. USD / JPY fell from 100.00 to close at 99.00. AUD / USD recovered all the losses on Thursday and set a new high in September at the level of 0.9215. Raw oil rose by 1.67% during the day by 101.18. Oil jumped by 2.35% or $ 2.53 for the week. Gold rose by 1.19% during the day, closing the week at 1 389.40.