Dynamics
U.S. Dollar has once again declined. This pair of EUR /USD rose above 1.4000 marks, a pair GBP /USD was higher than 1.6400, and the pair USD /CHF fell to a mark 1.0900.
Japanese yen strengthened their positions against the dollar, but traded in a range against the euro. This pair USD /JPY fell below 96.00, a pair of EUR /JPY is traded on the approach to 135.00.
Commodity currencies rose slightly against the U.S. dollar. Thus, the pair AUD /USD came to the area of 0.8050, a pair NZD /USD trading above 0.6400, and the pair USD /CAD has fallen to a mark 1.1500.
Causes
reduce the dollar contributed to the growth of quotations on the stock pads and oil prices. But the U.S. currency did not leave the newly formed band, because the market is still highly uncertain because of ambiguity of economic data. So, the day before had been presented to the revised GDP data for the United States for the I quarter, which proved better than expected. At the same time, weekly data on applications for unemployment benefits showed a further increase in the number of unemployed. As a result, high uncertainty has led to increased intraday volatility, which had in the past month. Market participants are clearly not enough landmarks that could set the direction Trading.
What to expect?
At the moment, difficult to say that will be a catalyst that could provoke a U.S. withdrawal from the current ranges. This could happen today after the publication of data on personal income and spending, as well as the price index for personal consumption expenditures in the United States. Alternatively, market participants will prefer to wait until next week, when the ISM Index will be published and the data of the labor market. Also, it is difficult to predict the direction of further tenders for the dollar.
In Germany today, will be presented preliminary data on consumer price inflation in June. If the deflationary trend has, once again in danger of losing the Euro portion of positions against other currencies.
What is fear?
There remains the situation around the U.S. dollar remains uncertain, and upcoming events can have a significant influence on him, while provoking a burst of volatility.
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