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07.05.2015 18:20

American focus: the euro fell against the US dollar

The euro depreciated significantly against the dollar, falling below $ 1.1300, which was associated with the publication of a report on the number of initial applications for unemployment insurance in the United States. Ministry of Labor announced initial applications for unemployment benefits rose by 3,000 and reached a seasonally adjusted 265,000 in the week ended May 2nd. Economists expected 280,000 initial claims. The level of applications in the previous week has not been revised and remained at around 262,000 - the lowest since 2000. The moving average for the four weeks of initial claims fell by 4,250 last week to 279 500. The Labor Department said that no special factors did not affect the latest data. A report on Thursday showed that the number of repeat applications for unemployment benefits fell by 28,000 to 2.23 million in the week ended April 25 was the lowest level since November 2000.

Meanwhile, reports that next Monday Greece is unlikely to enter into an agreement with the EU, also pressured the single currency. EU Head Deysselblum said today that next Monday, Greece will likely not be agreed, adding that in the case of liquidity problems the country may face difficulties in complying with the deadlines. "From a political point of view, the only deadline is the end of June, when the end of the second term of the assistance program. However, there may be other deadlines - in case if Athens will mature liquidity problems, "- he said.

The pound traded in a narrow range against the US dollar on a background of ongoing general elections in the UK. They are considered the most unpredictable for many years. The first exit poll data will be available 21.00 GMT. During the last two elections, the results of such polls accurately predicted the results of the elections, so we should expect the pound fluctuations in response to any unexpected information obtained on the basis of surveys of voters. According to forecasts, the Conservatives need to get around 281 seats in parliament, Labour - 266 Liberal Democrats - 27, the Scottish National Party - 51, and the United Kingdom Independence Party - 1 seat. Higher rates Conservatives or the Liberal Democrats, who will bring them to obtain an absolute majority, probably led to a sharp increase in the pound. Increasing the number of votes cast in the Labour Party seems to have a negative impact on the pound, if it does not happen at the expense of the votes cast of the Scottish National Party, as in this case, the impact on the pound will not.

The dollar rose against the yen significantly, restoring all the lost positions yesterday. The US currency was supported by a report on applications for unemployment benefits. In addition, market participants are waiting for Friday's release of data on the US labor market. Economists forecast that employment will increase by 224,000 and the unemployment rate fell to 5.4% from 5.5%. If job growth does not accelerate, it could be a problem for Fed policy. Recall the recent series of disappointing US economic data undermined optimism about the economic recovery, prompting investors to reconsider the initial expectations of the Fed raising interest rates at the end of the year instead of the middle. Meanwhile, today the head of the Federal Reserve Bank of Chicago Charles Evans said the Fed could raise rates at any meeting of the Fed, but added that the start of tightening in 2016 will be better coordinated with the picture of inflation. The politician also added that he expects a rebound after the economic slowdown in the 1st quarter. In the 2nd quarter, it expects to see economic growth of 3%.

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