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EuroStoxx50: in anticipation of the publication of NFP _03/06/2016

Technical analysis and trading recommendations -

According to economists, the US unemployment rate fell in May to 4.9% compared to 5.0% in April, the number of new jobs in non-agricultural sector of the US economy had created 164 000. If data will be very different from the forecast, the financial markets will react to serious volatility.

In case of a match or exceed the US dollar forecast significantly strengthened in the currency market, as market opinion about the possibility of raising interest rates significantly grow stronger in the United States. Otherwise, if the data on the NFP prediction below about 20 000, the dollar occur deep correction. Weak employment data then reduce the likelihood of the Fed raising interest rates in June.

This should support the US stock indexes. Thus, the Fed Kaplan said yesterday that too rapid a rate hike could damage the US economy, and the Fed will have to face the inevitable recession.

As expected, the ECB left unchanged monthly volume of repurchase bonds from the market (80 billion. Euros) and interest rates in the euro area (0% base rate and deposit rate -0.4%).

After a hesitation within 50 points at the time of release of this news the EUR / USD returned to the previous level near the 1.1190 mark. At the ensuing press conference the head of the ECB M.Dragi again called on market participants to be patient before seeing tangible results conducted by the ECB, as well as
he pledged to keep interest rates at current or lower level extended period of time. StoxxEurope600 European index rose by less than 0.1%, and the EUR / USD by the end of the day has declined by about 40 points to close near the 1.1150 mark. Other European indices also reacted to weak growth.

With the opening of today's trading day global stock indices show a very weak trend. The dollar is trading almost unchanged. Investors prefer to refrain from taking action before the publication of key US employment data for May, which will be released at 12:30 (GMT). European indices also with the opening of the European session almost unchanged. EuroStoxx50 traded near the mark 3045.0. The weak dynamics of trading in financial markets continues, apparently, until 12:30.

Friday, 03 Jun, 2016 / 10:14

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