Euro/dollar is growing just a tiny bit with no obvious dynamics. The current quotation of EURUSD is 1.1880.
For the USD, it still matters a lot that the Federal Reserve System does not hurry to wind up stimulation measures. The market seems to agree with the Fed's head on the issue that an increase in interest rates is not something to happen soon.
The profitability of US treasury bonds is not growing, leaving the dollar unsupported. Market attention is now focused on the US employment statistics.
The first one to be published is the ADP private sector employment statistics (Wednesday). The main block is due on Friday. The NFP in July is supposed to have grown by over 900 thousand. This would become the high of the last 11 months and would support the USD.;
Today there will be a bit of interest statistics. In the afternoon, the Eurozone will publish the PPI in June; growth by 1.4% m/m is expected, after growth in May by 1.3% m/m.
In the evening, the USA will publish the volume of industrial orders in June. There is also expected some growth.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.