EUR/usd
The last day of the month wasn't very lucky for the stock exchanges. Players decided to gather their profits and were eagerly selling stocks. However, it wasn't an obstacle for S&P 500, which demonstrated the highest monthly close in history and all in all seven months of growth. It is remarkable that in the meantime there was a real fight between bears and bulls in Forex. As could be expected, the latter didn't hurry to abandon 1.30 and spared no effort to help the pair consolidate lower. Over Friday the pair first fell from 1.3050 to 1.2950, but at the end of the day again returned to the initial level. The fight for this important level continues and during the Asian session the pair rose to 1.3020. This is the level of the 200-day MA. If the pair resolutely moves in one or the other direction, this direction may be with every reason regarded as a trend for the coming days and even weeks. In our opinion, market participants will try to refrain from active actions until the situation in the US labour market gets clearer, despite the fact that the coming days will be rich in economic releases. The stats on the number of jobs in May will be published already on Friday. Today's agenda comprises the release of Final PMI for the EU countries and ISM Manufacturing Index for the USA.
GBP/USD
Britain is also expecting the release of Manufacturing PMI today. The markets look forward to see the index go above 50b.p. for the first time since January. However, judging by the fact that the pound has grown to 1.5250 and hit a fresh two-week high this morning, traders feel quite optimistic. The next growth target may be seen at 1.53.
USD/JPY
The yen is still being purchased in exchange for USD, and usdjpy has dropped to the lows of the beginning of May. At present its rates are at 100.30. The former strong resistance at 99.90 is now an important support level on the way down, there the pair may find a lot of buyers.
AUD/USD
A month ago the RBA cut the interest rate to the record low of 2.75%, which came as a surprise for the majority of traders. Another meeting of the MPC will be held tonight. This time we can be more sure that the rate will be kept unchanged. Yet the data on job advertisements, published last night, were not reassuring. The annual decline rate made 18.5% in May. And retail sales didn't grow as much as was expected by the market in April – the growth made only 0.2% m/m and 3.1% y/y. But Retail Sales is a lagging indicator, so it will hardly affect the Bank's policy, which cannot be said about the employment statistics.
