For dollar the month ended without considerable changes against opening levels. On the last day American currency managed to get slight profit due to weak economic statistics from the Eurozone. US ADP report on employment showed results close to forecasts and retained dollar’s attractiveness for players, observed during the day. Behavior of Canadian dollar looked like a special case yesterday. Good report on GDP for July provoked profit fixation after 11-year maximums were reached in USDCAD pair.
Today the exchange market is likely to continue slow trade, expecting US report on labor, which will be published on the last day of the week. The day has started positively for trade currencies – Chinese statistics were in general better than predicted. During this day we will see final data on production activity in the Eurozone, which are unlikely to change trades considerably, and besides, production ISM and weekly applications for unemployment benefits in the U.S.A. There are more threats for dollar – forecasts don’t promise improvement. Still, on the threshold of the data on unemployment this negative can be ignored. Speaking of local data of this day, it makes sense to pay attention to British production PMI. This week there were few statistical data from the U.K., British pound looks much weaker than euro now, and significant discrepancies between actual data and forecasts can provoke strong movements of this currency.
Now we stay out of the market.
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