Dynamics

U.S. dollar lost some captured positions against most currencies. When the pair EUR /USD back above the 1.4600 mark, the pair GBP /USD rebounded slightly above 1.5900, and the pair USD /CHF short period fell below 1.0300. Japanese yen lost some positions against other currencies. When the pair USD /JPY rose to a mark of 90.00, and the pair EUR /JPY rebounded to 131.50. Commodity strengthened against the U.S. dollar. Thus, the pair AUD /USD rose to 0.8750 marks, a pair NZD /USD rose slightly to 0.7200, and the pair USD /CAD has fallen to a mark 1.0800.

Causes

On Monday, it was not published a large number of important macroeconomic information and guidance for bidding was movement in the stock markets, which was marked by dynamic growth. This supported risky currencies against the U.S. dollar. This demonstrated the highest increase commodity currencies. Also at the rising stock market indices suffered losses and the Japanese yen.

What to expect?

Today in the U.S. expected to be published index of consumer confidence for September. These data can okat short-term pressure on the dollar, but in the long term prospects of American will depend on investor sentiment and the prospects for further recovery in the world economy. In this regard, market participants, with special attention to treat the publication on Thursday of Purchasing Management Index Institute for Supply Management and the U.S. entry in the Friday data on the number of jobs outside agriculture in the USA. These data will determine whether the U.S. economy is moving forward or is experiencing difficulties. It is expected that both reports would indicate an improvement, but if any of them would be disappointing, it could negatively affect the growth observed in September of risky currencies.

In the data from the United States today will be presented sentiment index in the euro-zone economy in September, as well as the latest data of the Bank of England lending and final data for GDP of Great Britain in II quarter. It is expected that the indices of the eurozone will continue to recover, pointing to continued economic recovery, which is likely to have support for single currency. Data from the UK can also provide support to severely affected the pound, if you show a moderate credit growth after the sharp fall of last month, and if the GDP data will be revised with a slight increase.

Why worry?

stock market volatility, as well as unexpected news, may provoke a sharp fluctuations in major currency pairs.

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