EUR/USD improved its positions on the second part of Thursday on Forex. Investors kept buying against the stable outer background and positive data for Germany and Eurozone.
As information published today shows, index of trust to the Eurozone economy grew up in July to the maximum of 2008 – 101,3 points against forecasts of 99,1 points.
Moreover, the level of unemployment in Germany dropped to 7,6% in July, the number of unemployed people has decreased for 13th time in a row.
All these facts have supported the positive mood of the players, however a certain constraint comes from the expectation of information that will be released tomorrow – about the level of US GDP in second quarter. It can make part of the traders fix profits of Thursday.
In the evening it became known that the number of applications for unemployment benefits in USA decreased by 17,000, while it was expected to be only 4,000. The number of people, who keep receiving those benefits grew up by 81,000 a week to 4,565 million (the forecast was 4,5 million). So, it is true that US economy recovery will not go fast until the decrease of the number of applications will be that immaterial.
It should be noted that the problems on the labor market keep limiting the consumers expenditure, which can slow down the economy growth in the second part of 2010. At the moment, there’s no feeling of any stability: people are still scared to lose their jobs. Today’s news about NASA dismissing 1,5 thousands of employees by mail is a very bright example.
As information published today shows, index of trust to the Eurozone economy grew up in July to the maximum of 2008 – 101,3 points against forecasts of 99,1 points.
Moreover, the level of unemployment in Germany dropped to 7,6% in July, the number of unemployed people has decreased for 13th time in a row.
All these facts have supported the positive mood of the players, however a certain constraint comes from the expectation of information that will be released tomorrow – about the level of US GDP in second quarter. It can make part of the traders fix profits of Thursday.
In the evening it became known that the number of applications for unemployment benefits in USA decreased by 17,000, while it was expected to be only 4,000. The number of people, who keep receiving those benefits grew up by 81,000 a week to 4,565 million (the forecast was 4,5 million). So, it is true that US economy recovery will not go fast until the decrease of the number of applications will be that immaterial.
It should be noted that the problems on the labor market keep limiting the consumers expenditure, which can slow down the economy growth in the second part of 2010. At the moment, there’s no feeling of any stability: people are still scared to lose their jobs. Today’s news about NASA dismissing 1,5 thousands of employees by mail is a very bright example.
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