04.09.2015 - Statistics on unemployment in the US will be in the focus of the market
Currency trading and the euro. The price of euro on Thursday showed a decline after the press conference of the ECB President Mario Draghi, who expressed readiness to introduce additional stimulus measures. We recall that at the moment in the euro area is a program of quantitative easing, with a monthly volume of purchases by 60 billion euros. Today is forecasted the rise in price volatility due to the publication of important statistics on the number of jobs outside the agricultural sector, and the unemployment rate in United States (12:30 GMT). In addition to the dynamics of trading can be influenced by the news on industrial orders in Germany (6:00 GMT). In case of the publication of weaker data from the US labor market, the probability of the Fed raising interest rates in September will decline and the euro will rise. Our medium-term outlook for euro remains negative and we expect increased volatility today.
Currency trading and the British pound. The price of the British pound continued its steady decline after the release of weak statistics on service PMI in the country, which showed the expansion for 32 month in a row, but was 2.0 worse than forecast of 57.6 in August. Economic statistics in recent years points to a slowdown. Today, in the country won’t be published important statistics and investors' attention will be focused on the news on the US labor market, which will increase volatility. Our medium-term outlook remains negative.
Currency trading and the Japanese yen. The price of the Japanese yen strengthened today against the background of technical factors. Rising prices was supported by the preservation of increased demand for protective assets due to the crisis on the Chinese stock markets. Investors also fixed positions ahead of today's publication of data on the US labor market, which will increase the market volatility. On Monday, will be the day off in the United States and slight impact on the course of trading will have news on the index of leading economic indicators in Japan. We expect a fall in the price of the Japanese yen in the medium term.
Currency trading and the Australian dollar. The price of the Australian dollar continued to decline and broke through the psychologically important level of 0.70. Weak economic statistics on GDP growth, the trade balance of the country and the expectation of lower interest rates from the Reserve Bank of Australia's current level of 2.0%, are the main factors that put pressure on the Australian currency. Today we will see increased volatility, but we expect a steady downward trend will continue in the medium term, despite a possible correction in the near future.
Currency trading and the New Zealand dollar. Price of the New Zealand dollar resumed its decline after a slight correction yesterday. Fundamental factors such as low export prices and the deterioration of macroeconomic indicators in the country continue to put pressure on the currency quotes. We see no reason to change the current negative trend and assume the possibility of a price increase within the correction. Our medium-term outlook remains negative.