Last week the US dollar was able to compensate only some of the lost positions. The dollar was supported by the US economic data – the US July retail sales suggested that the US economy is reviving; it brings the Fed monetary policy tightening beginning. According to the Commerce Department, the volume sales rose up by 0.6% in July. The messages about the jobless claims were less optimistic - 274 thousand when it was expected 270 thousand, still it slightly disappointed traders.
The pair EUR/USD had decreased by the end of the day amid the long positions profit taking after the week uptrend. Investors focused their attention on the Euro zone GDP and its leading countries preliminary data. The forecasts assumed that the main economic indicator will grow by 0.4% q/q and 1.3% y/y after a 0.4% m/m, 1.0% y/y in the first quarter.
By the end of the day the sterling slightly increased. Earlier the pair GBP/USD had decreased amid the "black gold" market sales. The British currency is traditionally very sensitive to the Brent oil quotations changes.
The pair USD/JPY had increased amid the global equity markets correction which put pressure on the "safe haven" yen. Nevertheless, the pair showed a decrease by the end of the day.Publication source