Major currency pairs are not leaving the existing ranges

The overall situation has not changed, and the major currency pairs have not left the existing range, the break of which would be unlikely, at least until the publication of data on the labor market in the United States at the end of the week. However, the intraday volatility is likely to remain high due to low levels of liquidity and currency investors will continue to focus on the movement of stock indices. The publication of macroeconomic data would also enhance volatility.

Today, in the euro area is expected publication of the final values of indexes PMI for manufacturing sector in August. Besides, will present the latest data on unemployment in Germany. Strong indicators will contribute to the continued growth of the euro against the U.S. dollar. In the UK today will be known up to date the Bank of England lending, as well as PMI PMI for manufacturing sector in August. Improved data rates will also help strengthen the pound. In the USA today will be presented an industrial index of Institute of management by deliveries and an index of the signed contracts on sale in the habitation market.
01.09.2009