The U.S. dollar on the forex on Monday and could not be strengthened against the euro

The U.S. dollar on the forex on Monday and could not be strengthened against the euro, although during the Asian and European sessions, American feel very confident against the backdrop of a fading interest in risky assets. This pattern was due, first of all, the intensification of trade disputes between the U.S. and China because of Chinese imports of tires, which Americans have increased the fee. Investors feared similar action on the part of the Celestial Empire, which heralded the beginning of a protectionist war. But China has decided to limit ourselves to filing a protest to the World Trade Organization. As a result, players are once again actively switched to more lucrative euro, which last updated the maximum from the beginning of the year.

Monday was not rich in macroeconomic statistics. Important news came out only data on the Eurozone. Thus, industrial production in July in the currency bloc fell by 0,3% compared to the previous month and 15.9% in annual terms. Thus in figures released by the players saw a positive moment. In particular, the annual decline was minimal since the beginning of the year. Also agency Eurostat published data on the economically active population in the euro area. In the second quarter fell by 702 thousand people. In general, employment in European Monetary Union has declined in comparison with I quarter on 0,5%. Such dynamics is an unfavorable factor for the economy, as falling consumer activity of the population.

What about consumer demand in the United States today will be known after the publication of the August data on retail sales (16:30 Moscow time.). In addition, in the United States will be published producer price index (16:30 Moscow time.) And an indicator of business activity in the industrial area FRB of New York (16:30 Moscow time.). A little later, there are data on the status of inventory (18:00 Moscow time.), Which decline over the last two quarters of very negative impact on the dynamics of U.S. GDP.

American statistics today can enhance volatility in the markets, although in general, trade for a pair of home market, according to our forecasts, will be mainly in the range of 1,450-1,465 dollars per euro.

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