Apr. 4: American Session
Tatiana Norkina, FBS analyst
Negative statistics coming from the United States, made nervous market participants today. The number of people employed in non-agricultural sector of the economy has changed not for the better, a total of 192 million versus analysts' expectations of 200 thousand. The previous value of this figure was equal to 197 thousand people. In addition, the unemployment rate remained at the same level - 6.7 %, although experts expected a decline to 6.6%. Against this background, the U.S. dollar index moved sideways in a range of 80.50-80.77. Currently more prevailing trend is the bearish one, index losing about 0.05%. Major U.S. stock indexes also went into the red zone, decreasing by 0.05%.
News led to increased volatility in currency markets. EUR/USD pair went to a minimum of 1.3670, but at the moment came back to the 1.3600 figure. GBP/USD tested the 1.6550 support and also returned to the figure - 1.6600.
Sharp collapse happened on USD/JPY. The pair tried to break above 104.10 once again, but then buyers started to fix their position, which led to corrective decline to the area of 103.40.
Bear’s pressure over the past six trading sessions made the pair USD/CAD broke below the important psychological level of 1.1000. The pair is trading just above today's minimum of 1.0955.