12, November 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The U.S. dollar rose on Friday against all major currencies, after a positive report on the labor market (Non-Farm Payrolls), which showed acceleration in new job creation in October. According to the Ministry of Labor Non-Farm Employment Change has grown by 204 thousand when the forecast was only 125 thousand. This news had no impact on the marker.

On Tuesday Chicago Fed National Activity Index will be published, on Wednesday - Federal Budget Balance, on Thursday - the trade balance and on Friday we are waiting for Empire State Manufacturing Index. On Thursday Fed Chairman Bernanke will speak on the 100th anniversary of the Fed, besides there shall be hearing on the nomination of Janet Yellen for Federal Reserve position. From Tuesday to Thursday, the U.S. Treasury will sell long-term bonds.

The main event of the week in the euro area may become the publication of the preliminary GDP data for the third quarter and the main countries of the euro zone as a whole on Thursday. It is expected that economic growth in the euro area will be continued at a slower pace than in the second quarter - and will account for 0.1% q/q. The growth is likely to slow down significantly in Germany and France - Spain, by contrast, will come back to a moderate growth. On Wednesday we will see industrial output data and Friday there will be revealed the Final Consumer Price Index.