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Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Euro continues trading to the downside. Overview for 04.08.2016
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The Euro continues trading to the downside. Overview for 04.08.2016

04.08.2016
The main currency pair continues retreating on Thursday afternoon; the Euro couldn’t stay near 1.12.

The EUR/USD is being sold for the second consecutive day. Mostly, the instrument s trading around 1.1140, slightly above the first half of the day, the volumes are not big.

According to the statistics published today, the number of jobless claims was 269 thousand against the predicted number of 265 thousand. However, the market wasn’t impressed much as yesterday’s report from ADP was rather good and investors prefer to wait for the report on employment market in July to be published on Friday.

United States Manufacturing Technology Orders in June has already been published. The indicator reduced by 1.5% m/m against the expected number of 1.8% m/m.

During his speech today, Mr. Jens Weidmann, the European Central Bank member, noticed that there will be no changes in the economic forecast for the Eurozone due to the UK’s decision to exit the European Union. The economic system of the Old World will continue its recovery. Low interest rates attract investors and clear the way for capitals, and this, according to Weidmann, must smooth possible consequences of the Brexit process.

Judging by reluctant price movements, the market is resolved to estimate July’s statistics on the employment first, and only after that start making moves.
 
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