Aug. 5: American Session
Tatiana Norkina, analyst at FBS
The US dollar has been strengthening today against the weakening of the EU currency after the release of mixed data on the eurozone. At the opening session, the dollar is adding about 0.23%, testing the 81.60 mark. At the same time, stock markets have opened with a decrease of over 0.20%. A little later, at 18:00, they expect appearance of data on industrial orders for the past month and business activity in the services sector (ISM).
Currency markets are also facing strengthening of the dollar against the major world currencies. The EUR/USD pair has fallen to the lows of three days ago - the 1.3380 figure. The pound has tried to gain foothold (GBP/USD), but has again returned to the opening level - 1.6860. The USD/CHF currency pair has broken the 0.9085 resistance upwards and is currently recovering to the July highs, while USD/JPY has grown to 102.70 after testing the 102.40/102.45 support.