On Thursday, September 12, main stock indexes of the United States of America finished the trading session after the insignificant in the negative territory. The Syrian problem still remains on the agenda. Intensity in the markets grew again after John Kerri's statements that the probability of military operations from the USA isn't excluded yet.
Expectations concerning reduction of the program of stimulation of economy of the USA, which can be already declared next week, only poured oil on the flame. This speculation has been strengthened by data on number of primary requests for the unemployment benefits, which reached the minimum value since March, 2006. So, the number made 292 thousand whereas 330 thousand were expected.
Following the results of trading session the indicator of "blue chips" the Dow Jones Industrial Average index lost 0,17%% and was closed on a level of 15 300,64 points, the index of the wide market S&P 500 went to a minus for 0,34%% to level 1 683,42 points, and the index of the hi-tech companies Nasdaq lost 0,24%% reaching level of 3 715,97 points.
As the majority of participants of the market wait for any definiteness concerning the solution of the conflict round Syria, the price of Brent continues to dangle near a key zone of support level at of 110-112$ for barrel. This area separates us from more essential impulse down. This morning Brent is traded on a level of 111.71$ per barrel and Light on 107.69$ per barrel.
As for EUR/USD currency pair, prospects of pair have limited character in connection with unimpressive recovery of the economy of the Eurozone. The area 1.3320/1.3330 still remains to be very difficult for overcoming, so strong data on retail sales can send pair down with the nearest level on 1,3260.
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2013/09/12
Investors are waiting for FRS meeting where the destiny of the QE3 program can be decided
Leading stock markets of Europe has been growing yesterday. The leader became the German DAX, which has added 0.6%%. Mainly due to increased interest from the investors towards the largest German energy companies - E.ON (+4,8%%) and RWE (+6,6%%). The value of the stock of the British chip maker ARM Holdings developing chips for iPhone smartphones, jumped up yesterday almost for 5%%. It occurred after Apple announced two latest versions of the smartphones - multipurpose iPhone 5S and its younger brother - iPhone 5C.
However shares of Apple after presentation of smartphones fell in two days more than for 7%%. Experts totally scarified positioned as the "budgetary" iPhone 5C, which obviously didn't get to the target price category. Falling of stock quotes of Apple was negatively reflected yesterday in an index of technological sector of the USA which lost 0,1%%. In turn, Dow Jones finished trading day in a green zone, having added 0,7%%, thankfully to growth of stock quotations of IBM corporation. Corporation declared that sells to the Synnex company the division which is engaged in outsourcing support of clients, for $0,5 billion. Shares of Synnex jumped up yesterday more than for 20%%.
Another interesting development yesterday was that on the expectations of good performance results due to increased demand for mobile advertising, Facebook shares rose in price for 3.3%% and were closed at 45.04$ per share, having exceeded a level of 45.00$ for the first time since the moment of IPO which has been carried out in May, 2012.
As to the currency market, main currency pairs approached to key levels of resistance. As a result, EUR/USD finished trading day in the level of 1,3310, and GBP/USD – around 1,5740. News that the U.S. President Obama asked the Congress to postpone vote concerning rocket attack across Damascus, reduced interest to US dollar, however pair faced quite strong resistance on 1,3280 which could go throw only during the American session. This morning EUR/USD is traded on a level of 1.3302, there is possibility that levels of 1.3320/1.3330 will be difficult to overcome and, as a result, it is possible to expect temporary correction back to 1.3260.
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2013/09/11
Berlusconi’s threats attract attention of investors
Yesterday stock markets of the United States of America finished trading session on a positive note due to support given by statements of the prime minister of Syria and statistics from China, which appeared to be better than average expectations of analysts.
Prime minister of Syria, Wael al-Halki, declared that his country agrees with the offer of Russia to transfer all Syrian chemical weapon under the international control, having officially agreed, thus, on chemical disarmament. The market with optimism apprehended these news, taking into consideration also speech of US Secretary of State, John Kerri, who noted that Assad can avoid military intervention if within the next week transfers all chemical weapon to the international community.
As for the Chinese statistics, according to the presented data, retails increased in August by 13,4%% while increase of only 13,2%% has been predicted. Industrial production in August increased by 10,4%% that exceeded forecasts of analysts of 9,9%%.
Following the results of yesterday's trading session - the indicator of "blue chips" the Dow Jones Industrial Average index got stronger for 0,85%% and was closed on a level of 15 191,06 points, the index of the wide market S&P 500 increased for 0,73%% to level of 1 683,99 points, and the index of the hi-tech companies Nasdaq added 0,62%% reaching 3 729,02 points.
As Syrian question has been put on hold, prices of oil of brand Light started to decrease in price, reaching this morning price of 106.16$ per barrel. Brent adds 0.10%% and is traded on a level of 110.13$. Gold is stable on 1367.09$.
While the economic calendar is not having many statistical data, attention of the investors is drawn to subject in relation to Berlusconi and his party. It is important subject, because Italy is the third by the size economic system of E-17 system, and if crisis will begin within the country, echoes will be heard in all region. Secondly, threat of the politician to convince party to stop government support is dangerous due to the fact that the coalition government of the current prime minister won't be able to continue work. Parliament collapse, need of carrying out new elections will lead to new expenses and instability in Italy. Berlusconi didn't sound the decision yet, but can make it at any time, therefore EUR/USD trades very carefully.
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2013/09/10
The USA is ready to postpone military operation against Syria
Today the market will be more nervous, than it was on Monday - the USA is ready to accept the offer of Russia and to postpone military operation against Syria, if Syria will agree to transfer the chemical weapon of the country under the international control. Based on this news and discussions, prices of oil are falling. Brent is traded this morning on 111.47$ per barrel and Light has reached level of 107.46$, both oil, both oil brands are losing around 1%% in price. Nevertheless, the latest events are only temporary break before the situation will continue to develop according to a new scenario.
Meanwhile, the stock market of the United States finished trading session with a moderate growth of the main indexes, the Dow Jones index recorded the greatest increase from the middle of July, having added 0.94%%. Nasdaq and S&P500 added 1.26%% and 0.99%% accordingly. Mainly all the stock markets were growing on the Chinese optimism.
Just to remind, that surplus of trade balance made $28,61 billion in comparison with average market expectations at the level of $20 billion. Signs of improvement of economy of the country accordingly to the tradition work as a balm for the soul of the investment community, and on such background even remaining uncertainty around Syria didn't prevent rally.
One more interesting development, we could see in the development of the EUR/USD currency pair. USD felt under pressure after the index of business moods of Sentix grew to 6,5 instead of predicted fall to 4,0, having showed the maximum indicator since May, 2011. Euro went above level of 1.32, reaching 1.3280 high during the America trading session and closing day around 1.3260. This morning, dollar is trying to win back lost positions and is strengthening towards euro, traded on a level of 1.3246.
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Meanwhile, the stock market of the United States finished trading session with a moderate growth of the main indexes, the Dow Jones index recorded the greatest increase from the middle of July, having added 0.94%%. Nasdaq and S&P500 added 1.26%% and 0.99%% accordingly. Mainly all the stock markets were growing on the Chinese optimism.
Just to remind, that surplus of trade balance made $28,61 billion in comparison with average market expectations at the level of $20 billion. Signs of improvement of economy of the country accordingly to the tradition work as a balm for the soul of the investment community, and on such background even remaining uncertainty around Syria didn't prevent rally.
One more interesting development, we could see in the development of the EUR/USD currency pair. USD felt under pressure after the index of business moods of Sentix grew to 6,5 instead of predicted fall to 4,0, having showed the maximum indicator since May, 2011. Euro went above level of 1.32, reaching 1.3280 high during the America trading session and closing day around 1.3260. This morning, dollar is trying to win back lost positions and is strengthening towards euro, traded on a level of 1.3246.
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2013/09/09
Decision On Syria Can Bring A Negative Impact On Stock Markets
Last week was full of macroeconomic statistical data, which has been bringing turbulence on the markets and we have witnessed quite different movements in the stock and currency markets of late. Despite the fact that trading session in the American stock market has been rather volatile, indexes finished almost on the levels they began. Dow Jones dropped for 0.10%% and reached 14922.50, Nasdaq added 0.03%% and closed the session on the level of 3660.01 and S&P500 increased for 0.01%% and closed the session on 1655.17.
The American Dollar strengthened last week due to key macroeconomic indicators, which were better than expectations, showing increased chances that FRS will begin the reduction of the program of quantitative easing following the results of the next meeting which will take place on September 17-18. The PMI indexes in the production and services sector were recorded at levels 55.7%% and 58.6%%, respectively. But, after the publication of the report on the labor market, where data for June and July were revised with a fall in the sum on 79 thousand, the American Dollar was under moderate pressure and started to lose in relation to major currencies.
The European currency has also been under quite strong pressure after the head of the European Central Bank, Mario Dragi, during a press conference, declared that the Management board discussed the possibility of an additional decrease of the interest rate. The month before, the European Central Bank gave reference points on monetary policy in which he noted that rates will remain low in "the foreseeable future". However, against improving macroeconomic statistics, participants of the market began to exclude the possibility of a further decrease, and the Euro became stronger. EUR/USD pair on Friday was traded on the level of 1.3160, losing following the results of a week 0.4%%. This morning, we can see EUR/USD traded on the level of 1.3172.
This week there are no expected important macroeconomic statistics capable to have essential impact on the moods of participants of the currency market. As for the near-term outlook, Syria still remains the center of attention. Obama's speech to the nation address is planned for Tuesday. On Wednesday congressmen are returning from vacation, and will, most probably, take a final decision on the Syrian matter.
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The American Dollar strengthened last week due to key macroeconomic indicators, which were better than expectations, showing increased chances that FRS will begin the reduction of the program of quantitative easing following the results of the next meeting which will take place on September 17-18. The PMI indexes in the production and services sector were recorded at levels 55.7%% and 58.6%%, respectively. But, after the publication of the report on the labor market, where data for June and July were revised with a fall in the sum on 79 thousand, the American Dollar was under moderate pressure and started to lose in relation to major currencies.
The European currency has also been under quite strong pressure after the head of the European Central Bank, Mario Dragi, during a press conference, declared that the Management board discussed the possibility of an additional decrease of the interest rate. The month before, the European Central Bank gave reference points on monetary policy in which he noted that rates will remain low in "the foreseeable future". However, against improving macroeconomic statistics, participants of the market began to exclude the possibility of a further decrease, and the Euro became stronger. EUR/USD pair on Friday was traded on the level of 1.3160, losing following the results of a week 0.4%%. This morning, we can see EUR/USD traded on the level of 1.3172.
This week there are no expected important macroeconomic statistics capable to have essential impact on the moods of participants of the currency market. As for the near-term outlook, Syria still remains the center of attention. Obama's speech to the nation address is planned for Tuesday. On Wednesday congressmen are returning from vacation, and will, most probably, take a final decision on the Syrian matter.
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2013/09/06
The release of strong data from the USA strengthened sales of Euro
Statistical data presented yesterday in the America had more considerable impact on the market, than meetings of two main Central Banks. As a result the stock market of the United States finished trading session with the small growth of the main indexes. Dow Jones Industrial Average raised on 0,04%% to level of 14937,50 points, the index of the wide market Standard & Poor's 500 increased by 0,12%% to a price of 1655,08 points, and the index of high-tech industries - Nasdaq Composite went to plus on 0,27%% and reached a point of 3658,78.
Strong macroeconomic data from the USA additionally to press conference of Mr. Dragi became a last straw, and if currency pair in the morning tried to keep next to the level 1.32 – after all dropped to a local minimum on the level of 1.3109. Even Dragi began his speech with conversations on the signs showing recovery in the economy, he still summed up, having declared that hard times aren't passed yet. Moreover, he confirmed that it is impossible to exclude need of lower rates.
Tension around Syrian question continues to grow. Messages on attempt of murder of the Minister of Internal Affairs of Egypt confirm that all Middle East, and not just Syria are captured by passions. It only maintains demand for US dollar which so is popular in anticipation of the report publication on "non-farm”.
In the commodity market, Brent is traded on a level of 113.49$ per barrel and Light reached 107.63$ per barrel. Gold with delivery in December on COMEX yesterday fell in the price by 1,22%% to level of 1373.00$ for troy ounce and this morning is traded on a level of 1371.56$.
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Strong macroeconomic data from the USA additionally to press conference of Mr. Dragi became a last straw, and if currency pair in the morning tried to keep next to the level 1.32 – after all dropped to a local minimum on the level of 1.3109. Even Dragi began his speech with conversations on the signs showing recovery in the economy, he still summed up, having declared that hard times aren't passed yet. Moreover, he confirmed that it is impossible to exclude need of lower rates.
Tension around Syrian question continues to grow. Messages on attempt of murder of the Minister of Internal Affairs of Egypt confirm that all Middle East, and not just Syria are captured by passions. It only maintains demand for US dollar which so is popular in anticipation of the report publication on "non-farm”.
In the commodity market, Brent is traded on a level of 113.49$ per barrel and Light reached 107.63$ per barrel. Gold with delivery in December on COMEX yesterday fell in the price by 1,22%% to level of 1373.00$ for troy ounce and this morning is traded on a level of 1371.56$.
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2013/09/05
The bank of Japan left monetary policy without changes
Asian stock markets are not receiving any accurate impulses for long-term movement in the market that is why indexes in general are moving in a different directions. Today we also can see multi-directional dynamics in the market. Worse than the others look index of continental China SSE, the Australian ASX, and also Japanese Nikkei.
Today finished meeting of the Central Bank of Japan within which the regulator decided to leave the current monetary policy without change, having raised, thus, an assessment of state of the economy for the first time in 2 months. Thus already can be heard offers from some board members to make a target rate of inflation more flexible, and not to go so strictly with rate on 2%%. The Japanese yen practically didn't react to these statements, having continued to bargain under level 100 against the American dollar, but the stock market started decreasing gradually. Meanwhile the hi-tech exporting companies which are most sensitive to a rate of national currency, today mainly grow, so Sony, Pioneer and Toshiba add about 1,2%%.
In meantime in the USA, stock market has finished yesterday’s trading session with increase in price of main indexes. Reasons for that were improvement of macroeconomic realities in the Eurozone and the USA, and also increase in demand for shares of auto makers and the hi-tech companies. The revised data on gross domestic product of the Eurozone confirmed 0,3%% growth of economy of the region in the 2nd quarter, having strengthened impression of the favorable data published the other day on the industry in Europe. In the USA, in turn, according to the report of the Beige book, the industry grew, and consumers began to spend more for entertainments, in particular, on tourism.
Vote of Committee of foreign affairs at the Senate in favor of limited military blow to Syria didn't scare investors. Let's note that the final decision will be made, most likely, in some days. Price for oil stabilized a bit and decreased in comparison to few days before, Brent is traded on a level of 113.37$ per barrel and Light is traded on a level of 106.63$ per barrel.
Today investors will be waiting for the conference of Mr. Dragi and the unemployment figures from the USA.
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Today finished meeting of the Central Bank of Japan within which the regulator decided to leave the current monetary policy without change, having raised, thus, an assessment of state of the economy for the first time in 2 months. Thus already can be heard offers from some board members to make a target rate of inflation more flexible, and not to go so strictly with rate on 2%%. The Japanese yen practically didn't react to these statements, having continued to bargain under level 100 against the American dollar, but the stock market started decreasing gradually. Meanwhile the hi-tech exporting companies which are most sensitive to a rate of national currency, today mainly grow, so Sony, Pioneer and Toshiba add about 1,2%%.
In meantime in the USA, stock market has finished yesterday’s trading session with increase in price of main indexes. Reasons for that were improvement of macroeconomic realities in the Eurozone and the USA, and also increase in demand for shares of auto makers and the hi-tech companies. The revised data on gross domestic product of the Eurozone confirmed 0,3%% growth of economy of the region in the 2nd quarter, having strengthened impression of the favorable data published the other day on the industry in Europe. In the USA, in turn, according to the report of the Beige book, the industry grew, and consumers began to spend more for entertainments, in particular, on tourism.
Vote of Committee of foreign affairs at the Senate in favor of limited military blow to Syria didn't scare investors. Let's note that the final decision will be made, most likely, in some days. Price for oil stabilized a bit and decreased in comparison to few days before, Brent is traded on a level of 113.37$ per barrel and Light is traded on a level of 106.63$ per barrel.
Today investors will be waiting for the conference of Mr. Dragi and the unemployment figures from the USA.
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2013/09/04
The Syrian Factor Remains Dominating in the Market
We stepped in cold market waters of September only with one foot, but news lines are already glistening with various headings.
Limiting factor for the world markets is quite intense international situation around Syria. As it became known, the U.S. President Barack Obama got support of a number of key figures in the American congress in a question of drawing military blow to Syria. Vote on the matter in the congress will take place next week.
In addition to this on Tuesday in the first part of the day there were messages on start of ballistic missiles in the Mediterranean Sea. These news in the moment provoked speculative growth in the oil market, even in spite of the fact that as a result the Pentagon declared that rocket tests aren't connected with possible operation in Syria as they were already planned long ago (together with Israel).
As a result, price for Brent in a momentum reached 115.68$ per barrel and price for Light was on a level of 108.54$ per barrel. This morning, we can see Brent traded on a price of 113.78$ per barrel and Light on a level of 107.54$ per barrel, just with a slight decrease.
On the same background, EUR/USD pair became also the victim of market fears, which supported sales. The release of data on business activity in manufacturing industry of the USA became an additional factor of pressure. So, currency pair from level of opening 1,3188 dropped to a minimum of 1,3143 and finished trading days closely to 1,3165.
The Eurozone will publish today a series of data on business activity in a services sector. The indicator can continue to show growth, maintaining hopes of investors of more aggressive speech of the head of European Central Bank during a press conference after meeting. In that case it is possible to wait for kickback of EUR/USD from 1,3150 with probability of breakdown 1,32 and the further purpose on 1,3230.
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Limiting factor for the world markets is quite intense international situation around Syria. As it became known, the U.S. President Barack Obama got support of a number of key figures in the American congress in a question of drawing military blow to Syria. Vote on the matter in the congress will take place next week.
In addition to this on Tuesday in the first part of the day there were messages on start of ballistic missiles in the Mediterranean Sea. These news in the moment provoked speculative growth in the oil market, even in spite of the fact that as a result the Pentagon declared that rocket tests aren't connected with possible operation in Syria as they were already planned long ago (together with Israel).
As a result, price for Brent in a momentum reached 115.68$ per barrel and price for Light was on a level of 108.54$ per barrel. This morning, we can see Brent traded on a price of 113.78$ per barrel and Light on a level of 107.54$ per barrel, just with a slight decrease.
On the same background, EUR/USD pair became also the victim of market fears, which supported sales. The release of data on business activity in manufacturing industry of the USA became an additional factor of pressure. So, currency pair from level of opening 1,3188 dropped to a minimum of 1,3143 and finished trading days closely to 1,3165.
The Eurozone will publish today a series of data on business activity in a services sector. The indicator can continue to show growth, maintaining hopes of investors of more aggressive speech of the head of European Central Bank during a press conference after meeting. In that case it is possible to wait for kickback of EUR/USD from 1,3150 with probability of breakdown 1,32 and the further purpose on 1,3230.
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2013/09/03
September is going to bring turbulence to currency markets
Following the results of the yesterday's trading session the European stock markets showed positive dynamics. The French CAC index which has grown by 1,84%%, became the leader of growth. The stock market in the USA was closed in connection with Labor Day celebration.
This morning support to the world markets was given by positive data from China. The index of business activity in production sector of China, counted by national bureau of statistics of the country, grew in August to 51 points comparable to 50,3 points month before. The similar index counted by HSBC bank, grew in August to 50,1 points in comparison with 47,7 points month before.
Statistics coming from other countries had in general mixed character. The index of business activity in production sector of Germany grew in August to 51,8 points in comparison with 50,7 points month before. Analysts expected index growth to 52 points. In France the similar index didn't change in comparison with the last month and made 49,7 points that coincided with expectations of analysts. As a whole, in the Eurozone the index grew to 51,4 points in comparison to 50,3 points in July, however growth to 51,3 points was expected.
This data was giving support to euro during trading session. As a result, EUR/USD pair opened day on a level of 1,3211, grew to 1,3226, and then was rolled away to a day minimum of 1,3183, having finished the trading session nearby.
It is necessary to admit that September will be very important month for the currency markets: all investors returned from summer holiday, trade volumes returned to normal, and the economic calendar is full of very important events. Among them elections in Australia, appointed to September 7; increase of a consumer tax in Japan; the solution of a question on a ceiling of a national debt of the USA; elections in Germany (on September 22) and, naturally, FOMC meeting on the monetary policy, planned for September 18-19. It will have the greatest value for currencies, and current week will help investors to be defined, whether to wait from the regulator turning of the program of stimulation.
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This morning support to the world markets was given by positive data from China. The index of business activity in production sector of China, counted by national bureau of statistics of the country, grew in August to 51 points comparable to 50,3 points month before. The similar index counted by HSBC bank, grew in August to 50,1 points in comparison with 47,7 points month before.
Statistics coming from other countries had in general mixed character. The index of business activity in production sector of Germany grew in August to 51,8 points in comparison with 50,7 points month before. Analysts expected index growth to 52 points. In France the similar index didn't change in comparison with the last month and made 49,7 points that coincided with expectations of analysts. As a whole, in the Eurozone the index grew to 51,4 points in comparison to 50,3 points in July, however growth to 51,3 points was expected.
This data was giving support to euro during trading session. As a result, EUR/USD pair opened day on a level of 1,3211, grew to 1,3226, and then was rolled away to a day minimum of 1,3183, having finished the trading session nearby.
It is necessary to admit that September will be very important month for the currency markets: all investors returned from summer holiday, trade volumes returned to normal, and the economic calendar is full of very important events. Among them elections in Australia, appointed to September 7; increase of a consumer tax in Japan; the solution of a question on a ceiling of a national debt of the USA; elections in Germany (on September 22) and, naturally, FOMC meeting on the monetary policy, planned for September 18-19. It will have the greatest value for currencies, and current week will help investors to be defined, whether to wait from the regulator turning of the program of stimulation.
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2013/09/02
August in USA ended on a bear note
On Friday, 30th of August, the stock market of the United States finished trading session with a moderate decrease of all main indexes. The last trading day of August passed the same way as the whole month - August loss of the Standard & Poor's 500 index declared maximum monthly loss since May of last year. Possible invasion of the western forces to Syria has been main discussed question. We will remind that the USA lost one of allies in respect of invasion into this hot spot, parliament of Great Britain made the decision against military operation in Syria. The United States during the day didn't make a final decision of further actions, though the American intelligence services have sufficient proofs of use of the chemical weapon by a ruling mode of Syria.
Following the results of trading session the indicator of blue chips - Dow Jones Industrial Average went down on 30,64 points to level of 14810,31 points, the index of the wide market Standard & Poor's 500 decreased by 0,32%% to a level of 1632,97 points, and the index of high-tech industries - Nasdaq Composite went to a minus 0,84%% and reached a level of 3589,87 points.
In the commodity market, October futures for NYMEX fell in price for 0,5%% to level of $107,65 for barrel; gold with delivery in December on COMEX fell in the price by 0,8%% to level of $1396,1 for troy ounce.
This week there will be many events which can affect dynamics of the market. Press conference of the head of European Central Bank - Mr. Dragi, the two-day summit G-20 in St. Petersburg, the report on employment for August in the USA. Today was announced an index of production activity in China for August (final) from HSBC-bank - growth to 51,0 in comparison with 50,3 in July is recorded. The Chinese governmental data which were issued a week ago, also showed growth of production activity. It is a little strange that the Chinese share index doesn't grow, but indexes of Hong Kong and Japan on the contrary show rapid growth.
From the European regulator changes in a monetary policy are not expected this time. The macroeconomic statistics from the Eurozone began to improve recently, and the main bank of the Eurozone has possibility to take a break. However Mario Dragi's traditional press conference will be object of close attention. The head of European Central Bank made more than once the sharp statements considerably influencing dynamics of EUR/USD, and therefore we recommend to be during this period out of the market and to watch development of events from outside.
From the point of view of the technical analysis of EUR/USD pair, it made an attempt to change settled ascending trend since the beginning of July. For overcoming level of 1,34, it doesn't have enough fundamental preconditions and if Mario Dragi will not provide them, it can test support on 1,3140.
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Following the results of trading session the indicator of blue chips - Dow Jones Industrial Average went down on 30,64 points to level of 14810,31 points, the index of the wide market Standard & Poor's 500 decreased by 0,32%% to a level of 1632,97 points, and the index of high-tech industries - Nasdaq Composite went to a minus 0,84%% and reached a level of 3589,87 points.
In the commodity market, October futures for NYMEX fell in price for 0,5%% to level of $107,65 for barrel; gold with delivery in December on COMEX fell in the price by 0,8%% to level of $1396,1 for troy ounce.
This week there will be many events which can affect dynamics of the market. Press conference of the head of European Central Bank - Mr. Dragi, the two-day summit G-20 in St. Petersburg, the report on employment for August in the USA. Today was announced an index of production activity in China for August (final) from HSBC-bank - growth to 51,0 in comparison with 50,3 in July is recorded. The Chinese governmental data which were issued a week ago, also showed growth of production activity. It is a little strange that the Chinese share index doesn't grow, but indexes of Hong Kong and Japan on the contrary show rapid growth.
From the European regulator changes in a monetary policy are not expected this time. The macroeconomic statistics from the Eurozone began to improve recently, and the main bank of the Eurozone has possibility to take a break. However Mario Dragi's traditional press conference will be object of close attention. The head of European Central Bank made more than once the sharp statements considerably influencing dynamics of EUR/USD, and therefore we recommend to be during this period out of the market and to watch development of events from outside.
From the point of view of the technical analysis of EUR/USD pair, it made an attempt to change settled ascending trend since the beginning of July. For overcoming level of 1,34, it doesn't have enough fundamental preconditions and if Mario Dragi will not provide them, it can test support on 1,3140.
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