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On Friday, the evergreen buck was sticking to 15-month minimums versus other key currencies because last session’s dismal American service sector data kept weighing and traders waited for the publication of a major American employment report.
The currency pair EUR/USD ascended 0.12% being worth 1.1884, trading close to Wednesday’s 32-month maximum of 1.1911.
The American currency was under pressure after on Thursday the Institute for Supply Management told that its index of non-manufacturing activity went down to 53.9 from June’s reading of 57.4. Experts had hoped for an outcome of 57.0.
According to a separate report, the previous week American initial jobless claims went down by 5,000 slumping to 240,000 versus expectations for a 3,000 sag to 242,000.
Market participants are currently waiting for the nonfarm payrolls data for July in order to assess whether the American economy is sturdy enough for the US main financial institution to proceed with its planned tightening path.
Reportedly, the ECB is analyzing the possibility of the change of the current inflation target of "below but close to 2%". It weakened the EUR
What is important today?
USD/SGD rises as the indicators disappoint the market.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
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