EUR/USD ends the week over 1.33, JPY was able to increase profit
The pair EUR / USD ended trading this week over the level of 1.3300. Once in the past week much evidence points that the USD could go into a bullish trend, due to the increase speculation that the evidence could condense that the Fed will officially reduce the bond purchases in September. These speculations were but pulled last Friday in strong doubt after the data were released to the U.S. labor market. Although the unemployment rate fell from 7.6% to 7.4%, but all other published data were sobering. Significantly fewer new jobs in the non-farm sector were created like the forecasts said before. In addition, lots of the the new jobs, at a closer look, for the most part to poorly paid and to temporary or part-time jobs. This is also reflected in the average earnings, which declined by 0.1%. Because this week only a small number of economic data from the United States have been published, and, apart from the statements of the Fed board member Charles Evans, no further information was known that the Fed might next month actually reduce their purchases, there were increasing doubts about the reliability of speculation, which is reflected in the most losses of the USD in the last 3 weeks. On Friday, the USD was posted slight gains again, which is to lead but also partly on profit-taking ahead of the weekend back.
Currently the pair EUR/USD is at 1.3338, a decline of 0.31% and the GBP/USD at 1.5510, a minus of 0.17%. The yen, however, could also today reported an increase against the USD and the USD / JPY is currently at 96.425, which represents a decrease of 0.29%.
The Japanese yen has strengthened its course in the past week clearly against the other major currencies. For this, the BOJ meeting this week, where the monetary policy was set, contributed their part. The Yinssatz has not changed and it was not decided that the measures to support the Japanese Economy to decline. But it has been made clear that the Japanese economy is on a steady course, which is not least due to the exports, which beneficiary by the weak currency, and other, new measures by the BOJ are not provided in the future. Whether the JPY could hold his bullish course, this could already point to the beginning of next week, when the data for the Japanese GDP in the last quarter and the monthly industrial production figures will be published.
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