The dollar strengthened across the market in anticipation of Friday’s statistics from the United States
During the European trading session the us dollar strengthened across the market. Though the Euro returned to the level 1,2284, the General strengthening of the American currency made short-term buyers to get out of long positions that has led to falling of quotations to a mark 1,2236. At the time of writing the Euro was worth 1,2257.
Confrontation between the US and China, deters traders from action, since it is unknown what the response will follow from US shortly. States to increase duties on Chinese goods, China is giving it a mirror. The feeling that leaders of the two Nations engaged in the throwing of the ball from one side to the other. A trade war very difficult to stop, because the States refuse to negotiate under different pretexts.
In addition to news about the import duties in the US and China, market participants are preparing for the release of the report on the us labor market, which will be published on Friday at 15:30 (GMT+3). Report non-farm payrolls (US statistics on the number of new jobs outside the agricultural sector) is a key event for the week.
I believe that the market situation remains neopredelennoi. Sharp multi-directional oscillation at the major pairs will remain until until the situation is resolved between the US and China.
Retail sales in the Eurozone in February grew 0.1% m/m (forecast was 0.6%, the previous value of -0.3%).
The index of business activity in the services sector in the UK was equal to 51.7 (consensus was at 53.9, the former value was 54.5).
The index of business activity in the services sector in the Euro area amounted to 54.9 (consensus: 55.0, the previous value was equal to 55,0).
The index of business activity in the services sector in Germany came in at 53.9 (consensus: 54,2, the previous value was equal to 54,2).
The index of business activity in the services sector in France amounted to 56,9 (consensus: 56,8, the previous value was equal to 54.5).
The index of business activity in the services sector in Italy $ 52.6 (consensus was at 53.9, the former value was equal to 55,0).