Data on the U.S. labor market can determine the prospects for the dollar next week

The U.S. dollar was trading without a definite direction in anticipation of the publication of data on the labor market. As expected, the eve of market participants remained aloof from active operations before today's publication.

At the same time the euro has not received support following the results of session ECB as the accompanying statement was the extremely cautious and practically levelled a positive effect from increase of the forecast for eurozone gross national product. As a result of steam EUR/USD has returned to a mark 1,4250 after growth above 1,4300, pair GBP/USD also has decreased to 1,6300 after growth in area 1,6400, and pair USD/CHF was restored above 1,0600 after falling to 1,0545. The Japanese yen is corrected against other currencies. Thus pair USD/JPY has grown to a mark 92,75, and pair EUR/JPY is consolidated around 132,00. Commodity currencies were a little restored against US dollar. So, pair AUD/USD has grown to a mark 0,8400, pair NZD/USD has returned to a mark 0,6800, and pair USD/CAD still bargains nearby 1,1000.

Today the basic attention is given to the data from the USA on employment in August. It is expected Deterioration of an indicator of unemployment and, possibly, numbers of workplaces. Such development of a situation, possibly, is considered in dollar quotations, however the strong divergence of the fact sheet with expectations can cause activity splash, and also define dollar prospects forthcoming week.
04.09.2009