EUR/usd
Those, expecting that the fomc's minutes would make things clearer, must have been utterly disappointed yesterday. The minutes didn't contain any obvious signals of the stimulus rollback in September. The members of the Committee have different views on the future of the Fed's policy. We should understand that the meeting was held before the release of August's employment statistics, which have strengthened the beliefs that the economy needs support less and less. The improvement in unemployment claims lets market participants hope that the Fed's members, which have doubted better economic growth, will become more confident about it in mid September. Despite tangible volatility in the first minutes after the release, the initial trend for growth in the euro got the upper hand. By now EURUSD has hit the low of 1.3330 (at the Asian session), while a day ago it was trading almost a figure above it. At the moment we have reasons to expect further decline of the pair in the short term. It can be caused by the news both from the USA and Europe. The USA publishes weekly claims today, which may confirm strength of the recovery in the labour market. On the other hand, in regard to Europe there is a risk that after the strong business activity statistics in the previous month, the August stats may not prove to be that good.
GBP/USD
As is usual in such cases, when the markets go in the selling mode, the British pound suffers more than others. This time the pound felt quite good all Wednesday, but in an hour after the release of the minutes and during the Asian session the bears were exercising strong pressure on the British currency. Wednesday's high was set at 1.5715 – this is another local high and is very close to the peak of June – but already now trading is held at 1.56 and the daily low was hit at 1.5687. There won't be any important news releases in Britain today, so the pair will be fluctuating due to outside factors and news from the USA.
USD/JPY
The yen managed to fall against the US currency. The pair is now above 98.00, this is close to the levels where the reversal in the first half of August took place. Growth above 98.50 may face difficulties as there can be enough sellers, willing to purchase the cheap yen against weakening of stock exchanges.
USD/CAD
The Loonie has been suffering a lot in the recent days. A series of negative news releases on the Canadian economy and stronger demand for the US dollar gave rise to an upsurge of the rate from 1.0290 to 1.0500. First of all, the Canadian currency is suffering on the messages about growth of oil reserves in the USA. Besides, there was a serious move on the news about sharp decline of wholesale sales. And yesterday the currency was smashed by readiness of the federal reserve to rollback the stimulus. The pair still has the potential for growth, but may stumble across selling on the approach to 1.06.
