22, July 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

Bernanke answered the questions in the Senate Banking Committee last week.

Although analysts have not come to a consensus about whether his comments were softer or more stringent than those which he had done the previous week, the currency market seems to have focused on the end result of reducing the incentive on the part of the Fed and sent dollar up on Wednesday trading.

The index of business activity Philadelphia in July rose to 19.8, it’s its highest level in two years, from 12.5 in June.

The data on Thursday showed that the number of initial jobs claims in the U.S. in the June 7-13 fell by 24.000 to 334.000 – it is the lowest level since the beginning of May. According to the poll Market Watch, economists had expected them to reduce to 341.000.

The dollar index ICE, which tracks the dollar to a basket of six major currencies, rose to 82.960 from 82.715 on Wednesday night at the North American session. The dollar index WSJ, which tracks the dollar's value to a bit of a broader basket of currencies, rose to 75.07 from 74.72.

U.S. stock markets updated intraday highs after a reduction of weekly initial jobs claims and better data on industrial activity in the zone of the Federal Reserve Bank of Philadelphia. Dollar was rising a second consecutive day, winning back losses of the previous week and trying to re-test the key resistance at 83.00. Dow Jones rose at 0.50%, Nasdaq gained 0.01% and the S & P 500 rose at 0.46%.