The Euro / Dollar continues to grow
05.05.2014
The investors thanked the statistics and continued to successfully purchase the main currency pair, which climbs for the fourth consecutive session.
The euro / dollar on Monday morning continues to aim higher, and this time it has a good reason for such manoeuvres. Friday's U.S. released statistics were decent, but its nuances alarmed investors.
Moreover, increased talk about the deterioration of the U.S. GDP figures for the first quarter did not add optimism about the USD.
The published statistics showed that the unemployment rate in April in the U.S. fell to 6.3 % from 6.6% according to the expectations, and the release on Non-Farm Payrolls, employment in the non-agricultural sector of the economy, showed an increase of 288 thousand against the forecast of 211 thousand. The March data on NFP was also reviewed in the positive direction. Although, to the naked eye, the components of the report reveal the continuing trend of a falling share of the economically active population. This trend is not new, it is almost four years old, but its scope is very alarming: the level of economically active population is now 62.8% against the March figure of 63.2%.
Moreover, the market has still not completely recovered from the negative statistics on U.S. GDP first quarter - to remind you, the growth was purely symbolic. Now, however, observers say that the second reading can give investors even more unpleasant surprises, with the departure of the value of GDP to negative figures. Is such a scenario realistic? Absolutely.
Today investors will continue to analyse the incoming flow of information. The “bullish” goal to storm the 39th figure remains in force.
RoboForex Analytical Department
The euro / dollar on Monday morning continues to aim higher, and this time it has a good reason for such manoeuvres. Friday's U.S. released statistics were decent, but its nuances alarmed investors.
Moreover, increased talk about the deterioration of the U.S. GDP figures for the first quarter did not add optimism about the USD.
The published statistics showed that the unemployment rate in April in the U.S. fell to 6.3 % from 6.6% according to the expectations, and the release on Non-Farm Payrolls, employment in the non-agricultural sector of the economy, showed an increase of 288 thousand against the forecast of 211 thousand. The March data on NFP was also reviewed in the positive direction. Although, to the naked eye, the components of the report reveal the continuing trend of a falling share of the economically active population. This trend is not new, it is almost four years old, but its scope is very alarming: the level of economically active population is now 62.8% against the March figure of 63.2%.
Moreover, the market has still not completely recovered from the negative statistics on U.S. GDP first quarter - to remind you, the growth was purely symbolic. Now, however, observers say that the second reading can give investors even more unpleasant surprises, with the departure of the value of GDP to negative figures. Is such a scenario realistic? Absolutely.
Today investors will continue to analyse the incoming flow of information. The “bullish” goal to storm the 39th figure remains in force.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.