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Review of the past week
The past week on the currency market was very eventful. According to its results, US dollar lost the part of its positions as compared to its main rivals. The last meeting of EuCB did not bring surprises. Monetary policy remained on the same level, regulator stated that it is still concerned with low inflation, but will not take any measures as of now.
On Friday the report on US labor market was released. Non-Farm payroll release is very controversial. Despite strong figures from ADP as well as the service index of employment from ISM, final Non-Farm was released on the point of 74 000 having demonstrated the least value for the last 2,5 years. Nevertheless, totalunemployment level is reduced by 0.3 down to the level of 6.7%. Trade week was finished by Usd/Eur by growth up to the point of 1.3668.
Great Britain reported negative macroeconomic stats. Service PMI frustrated investors having shows the least values for the last 6 years. Also, trade balance and manufacture data was negative. Further to releases, GBP/USD quotations went down, but investors promptly re-bought this decline which says about strength of ascending trend. In general, a steady growth of GBP/USD pair had been witnessed over the week.
Full attention of investors was focused on the US data. Recordings of the last FRS meeting did not bring serious changes in “bulls” and “bears” alignment. American regulator stated that it expects a gradual tapering of stimulative measures and decisions will be made based in the view of situation with the labor market and inflation. On the last trading day labor market release was published n the USA. Unemployment level got down, but Non-Farm Payrolls data poured oil into the fire. Quotations managed to grow up to the point of 105.32 and fell by 150 points then. So, trading week was closed by USD/JPY just above 104.
Forecast for the week January 13 – 17
Dear Forum members!
We wish you a happy New Year and are glad to inform you: a drawing of 30 000$ among clients of “FreshForex” company was held. Absolutely every client could fight for prizes and take part in the “New Year Money Bag” promotion.
According to its results, 31 participants from 7 countries* received their New Year prizes. Main prize - 30 000$ - was gained by client of “FreshForex” company from Russia. Other 24 clients became the winners of prizes in the amount of 1500$ and 300$.
Follow our news and stay informed about other drawings and prizes provided by FreshForex company!
We wish a happy New Year to all members of this Forum!
May success in this year will attend you in all your initiatives.
Wish you and your loved ones good luck, happiness, joy, strength and excellent mood. May all your dream come true!