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According to the latest data from the forex trading sessions the major currencies changed slightly recently due to the US payrolls numbers that are expected to be released soon. It seems that the USD will be affected by the statistics that will likely to decrease by 60.000 for the May. But after the issue of ADP data the experts’ outlook changed to 40.000 growths. In case this growth will occur then the US currency will grow further caused by the facts of the country’s economy stabilization and concentration of the Federal Reserve on inflation problems. Anyway the decrease of the statistics is still an actual thing.
Due to Steve Pearson a chief currency strategist at BoS Treasury the numbers provided in ADP survey stand for the upside trend and the other reports provide more tolerant estimates.
As for the Euro it changed slightly after the issue of the German industrial production numbers that turned to be low in April and this was caused by insufficient volume of trading. The decrease occurs estimated at 0.8 percent instead of the 0.2 percent forecasted by the experts in advance. According to Jennifer McKeown at Capital Economics the decrease of the German industrial production numbers shows us the troubles in the branch that used to be quite successful.
However the annual rate keeps the position of 4.8 percent and thus remains quite positive indicator showing only slight slowdown even when considering negative forecasts.
The volume of German exports has changed caused by such factors as decreased demand in the US and the UK and increased Euro that will possible decrease in the nearest future due to the expressed intention of the European Central Bank to increase the interest rates.
According to Stuart Bennett at Calyon the European Central Bank will not give up the idea of support the Euro in the short-term period despite the fact that the ECB has already admitted the possible slowdown throughout the second quarter of the year.