May 6th: American session
Tatiana Norkina, an analyst at FBS
Last month retail sales increase to 0.3% in Europe ( forecast : -0.2 %) contributed to today strengthen of EUR, while weakening of the U.S. dollar index at the same time, which is currently losing about 0.50 %, falling to around 79.10. Trading has been negatively opened on major U.S. stock exchanges. S & P500 is losing about 0.30% and the DJIA - 0.55%. The negative data on the U.S. trade balance was the main driver of decline. According to the report, the deficit rose to 40.38 billion dollars, against expectations of $ 40.30 billion.
Consolidation was completed on the currency markets. The EUR/USD soared to around 1.3950 today, but corrected to 1.3930 in early U.S. session. British currency was supported by the positive statistics: business activity in the services sector in the UK rose unexpectedly - the index was 58.7, against expectations of 57.6. GBP/USD pair reached a high of 1.7000 figure, but now corrected at 1.6980.
Currency pair USD/CHF has issued a low in the area of 0.8720 - it's almost March lows. USD/JPY dropped pretty much as well, today its rate fell to around 101.50 .