Results of the last trading day EUR / USD:
For the week, most major currencies closed higher. The greatest increase in relation to the US dollar showed British pound (+ 2.03%). Euro podrozhat 0.55%, Japanese yen - at 0.41%, the Swiss franc - 0.32% and the Canadian dollar - 0.26%. Reducing showed New Zealand dollar (-0.20%) and the Australian dollar (-0.22%).
On Friday, May 3, buyers EUR / USD played daily losses and closed higher. After the release of NFP EUR / USD rate dropped to 1.1135. These labor market report in the US for April came out better than expected. The number of new jobs has increased, the unemployment rate fell.
The dollar has lost all the profits. Traders focused on the weak performance of the report. The monthly rate of wages growth was modest, and the level of participation in the labor force declined.
The number of new jobs created is with / agricultural sector in April amounted to 263 thousand. Vs. 190 thousand. (Forecast was in the range of 120 thousand. Up to 250 ths.). The figures for the previous two months were increased to 16 thousand. Unemployment rate decreased to 3.6% from 3.8%. The share of the labor force in the total population dropped to 62.8% from 63.0%. The average hourly wage was 0.2% vs. 0.3%, annualized - 3.2% (previous value - 3.3%)
Additional pressure on the dollar was a report from the ISM. index of business activity in the US service sector fell to 55.5 in April, compared with 56.1 in March (forecast was 57.0). I believe that after the NFP report was not interested speculators. They have taken advantage of to take profits on long positions and open shorts. The euro / dollar climbed to 1.1205.
Planned statistics (GMT + 3):
From 10:50 to 11:00 will leave indexes of business activity in the services sector from Markit April in France, Germany, the euro zone.
At 11:30 in the euro zone will be released indicator of investor confidence from Sentix in May.
At 12:00 the Eurozone will declare the change in retail sales in March.
At 16:30, a speech made by members of FOMC Patrick Harker.
At 17:00 he will make a speech of FOMC members John Williams.
At 18:00 a speech made by members of the ECB Peter Prat.
At 20:45 will be the speech of the Bank of Canada Stephen Poloz.
The current situation is EUR / USD:
In the Monday, May 6, trading in the EUR / USD pair opened with a sharp decline. Foreign exchange forex market opened in the "red" on the news on China and the United States. The weakening of major currencies caused a message on Twitter the American journalist Edward Lawrence, in which he wrote that Chinese Vice Premier Liu He canceled a trip to Washington in response to the recent actions of President Donald Trump. On Sunday, Trump said that this week will raise tariffs on Chinese goods.
The EUR / USD recovered overnight losses. EUR / USD is trading at around 1.1192 against 1.1170 low. According to the forecast EUR / USD pair will likely decline to 45 degrees - 1.1152 against Friday night rally. If today's low 1.1170 will not be downgraded, then we should expect recovery EUR / USD pair to 1.1260.
See also: Forex Forecast and recommendations today 06.05.2019 EUR / USD - the reasons for the growth, GBP / USD - the flat, USD / JPY - the demand for risky assets
Forecast of the EURUSD today Vladislav Antonov Alpari