BOSSA.CZ (BOSSA.CZ)
Markets  |  April 08, 2013 07:35:00

Daily Report for trading in EUR / USD


The most anticipated release of the U.S. economy by creating new jobs outside the agricultural sector negatively surprised markets last Friday. The largest economy in the world last month could only create 88,000 new jobs and significantly so stumbled in pursuit of rapid expansion of the labor market. America did not make for a great result in February, which was revised to gain 268,000 new jobs. Positive news for the U.S. seemed to be a decline in the unemployment rate to 7.6 percent from 7.7 percent. According to the Statistical Office, for the distorted information because 500,000 people left the labor market or stopped looking for a job. Into politically unenviable situation got Fed FED, which seeks its economic stimulus in the form of monthly bond purchases just started the job market and disappointment Friday gave critics ammunitionits monetary policy.

In Europe, meanwhile Portuguese Finance Minister Pedro Passos Coelho warned that his country will need further austerity measures. Southern European countries like Spain is hit by the economic crisis and hardly looks competitive sector that could help the decline. Portugal two years ago has received a significant injection from the European Union in the form of 78 billion euros. Now the question arises whether further government cuts in the public sector are the right thing for the local economy.

Today at 10:30 Sentix index will be published in the euro area, which maps an investment trust and noon industrial production in Germany. In a monthly measurement by the industry is estimated to reclaim about 0.4 percent.

In addition, a new week starts several important political meetings. U.S. Deputy Treasury Jack Lew will start on Monday two-day economic behavior in Europe. First encounters with members of the European Commission in Brussels and then moved to Frankfurt to meet with ECB chief Mario Draghi. Furthermore, Russian President Vladimir Putin will be in the Netherlands on the situation in Cyprus, while British Prime Minister David Cameron will fly to Madrid to furthered its intentions for the Reformation of the European Union.

New Zealand published at midnight numbers on consumer confidence and tomorrow morning at 1:15 to talk Fed Chairman Ben Bernanke.

Currency pair EUR / USD managed on Friday after poor U.S. data to strengthen back to levels around 1.3033. A significant impetus for strengthening was also among other puncture growing trend channel with resistance 1,288.Currently, the market returned to us problematic zone, which consists of 23.6 Fibonacci level, psychological resistance value of 1.30 and 1.3030. Hidden bearish divergence on MACD and records rather negative scenario.




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