American focus: the dollar fell against most major currencies

The dollar fell against most major currencies after the release of unexpectedly positive U.S. data on employment. According to the data, the number of jobs outside agriculture in the U.S. in July increased by 163,000, while economists had expected growth to 95 000.

In addition, in July, the ISM index in the U.S. service sector grew more strongly than in the previous month, helped by a substantial increase in orders. The indicator rose to 52.6 versus 52.1 in June. Economists expected the index would remain unchanged, while the analysts' estimates ranged from 50.5 to 53. Business activity and new orders showed an increase, while the employment component fell for the first time in December 2011, reaching 49.3 versus 52.3 in June.

The euro rose against other major currencies, receiving support from lower yields on bonds of Spain and Italy. In addition, the single currency is growing on rumors that the EFSF is going to give the banks their sovereign bonds. Earlier, the euro grew up on rumors that the Spanish Government intends to hold an unscheduled press conference, during which the authorities have formally requested the support of EFSF. Meanwhile, the yield on the 2-year bonds dropped from Spain's level of 4.48% to 3.75%. Today we have published data on the PMI index in the euro area - the weak PMI data for France and Italy were offset by more favorable from those of Germany and the eurozone.