The growth of employment in the US stopped the fall of the dollar.

The growth of employment in the US stopped the fall of the dollar.

Morning review.

Three days of the week were the time of strengthening the dollar.

Traders recorded profit on the growth of EUR/USD. From Monday to Wednesday, the euro fell to the dollar from 1.2065 to 1.1880, that is, almost 200 points.

While this is profit-taking, not a full turn, but the stop is drawn serious.

As one would expect, the franc and the yen played a big part in the growth of the dollar. The dollar-franc and the dollar-yen are quite ready for growth.

Was there a "foundation"?

On Wednesday, the report on employment from ADP came out with a forecast of +180 K, job growth in the US was +237 K in August, and the previous value was revised up +24 K.

That is, the labor market in the US is stronger than forecasts.

US GDP growth also revised the forecast to + 3%. With growth, the growth of consumer spending + 3.3%.

We note that the growth in corporate profits has decreased significantly from + 11% to + 8%. A new confirmation that we are in the last phase of growth in this economic cycle.

Today at 13.30 London time, the report on incomes/expenditures of consumers in the US will be published, and what is important? The RFE inflation index. If inflation will be shown, it can stop the growth of the euro.

For today: I believe that the euro will grow to 1.1980 today and tomorrow. Then, the evaluation of new data.

Sales are more profitable not earlier than 1.2000 and higher, as well as for a breakthrough of the level down which is formed after growth to the lows of the current day.

Purchases are possible on current.