FOREX: Monday results.[E]

Monday showed lacklustre trading as London and USA markets were closed for Memorial day. USD got weaker on rumours USA economy can slow down it’s growth. It is awaited that in May Consumer confidence and industrial production indexes can decrease. Such data can renew speculations FED will take a pause in it’s raising rate policy.
EUR is supported with speculations ECB will hike it’s key rate in faster rates then FED.

Expecting cut down of rate differentials between USA ,Eurozone, Japan has brought forth USD drop against JPY on 4.6% and against Euro on 7.6%.
EUR/USD lifted from $1.2730 to $1.2780. And then consolidated in a range $$1.2740/70. GBP/USD strengthened. Daily high was marked on $1.8640. but offers resisted sterling raise and dropped it to $1.8580.
USD/JPY consolidated within the limits Y112.15/30. Then the rate lifted to Y112.60/70, but then recoiled to Y112.40.

Investors will focus this week on FOMC Minutes from 10th May and also to a traditional report on employment sector.
FED on it’s last meeting has increased refinancing rate already 16 times to 5% . In the accompanying application FED governors have precisely declared, that the further steps of the Central Bank on interest rates will depend economic data.
May report on situation in employment sector will be traditionally published on Friday. Forecasts that in May there had been added 173K new working places against 138K in prior months. Also it is expected, that the rate of unemployment remains former 4.7 %.