At the beginning of the week the US labor market data, which was published on Friday last week, continued to render positive influence on the market participants’ confidence and on the American dollar strengthening. And the dollar index, which evaluates the American currency against the currencies of the six main US trading partners, continued to grow on Monday. Therefore, the EUR/USD pair consolidated in the rage between its minimum around the $1.4103 mark and its maximum at the $1.4217 level. 
Against the background of the stock indices growth and positive fundamental Japanese data, released on Monday as well, the yen rate demonstrated an increase. And the USD/JPY pair established a trading day minimum at the level of Y96.89.

On Tuesday the market participants mainly stood on the wait-and-see attitude on the threshold of the FOMC Committee meeting results.  But the euro turned out to be under pressure due to the news, published on Tuesday. The Standard & Poor’s agency decreased the credit ratings of Estonia and Latvia. The German fundamental data also pressured the euro. And the EUR/USD pair demonstrated its minimums at the range of $1.4100. The increased UK visible trade balance ensured the sterling with the negative dynamics on Tuesday. As a result, the GBP/USD pair dropped to the level of $1.6430.
On the same day the decision of the Bank of Japan not to change the principal interest rate and leave it at the level of 0.1% has been published.

According to the published results of the FOMC meeting, the Committee members decided to leave the principal interest rate unchanged at the previous level of  0,0%-0,25%. It also has been decided to slow down the purchase of the Treasury bonds. It was noted that the economical situation was stabilizing, nevertheless, its weakness would still continue for some time. After the release of the above results on Wednesday, the US dollar grow sharply. But by the end of the trading day the American dollar competitors demonstrated their positive dynamics again. And the EUR/USD pair dropped to the trading day minimum in the range of $1.4083. Its maximum has been set around the $1.4200 mark.

Negative UK fundamental news, which were published on Wednesday, pressured the sterling. The unemployment rate growth, drop of the industrial production level, and the speculations regarding the possibility that the Bank of England would not increase the principal rate, had a negative influence on the sterling dynamics. Consequently, the GBP/USD pair established its minimum at the level of  $1.6390, and then grew to the level of $1.6553.
Regardless of the US oil inventories growth, which was published on Wednesday, the oil rate continued with its positive dynamics. The main reason of this growth was a decreased US dollar rate.  

The Euro zone fundamental data, published on Thursday, and the investors’ willingness to take risks, rendered serious support to the euro currencies. The statistical data showed an unexpected GDP growth in Germany and in France for the second quarter. At the same time the weak US fundamental news regarding the retails sales in the US pressured the American dollar on Thursday. The EUR/USD pair demonstrated its growth to the level of $1.4326, which also set a weekly maximum.
Due to the weakened American dollar, the gold rate increased and closed the trading day at the $957.15 mark. And the silver rate demonstrated a sharper growth, compared to the gold price and closed at the level of $15.070.

On Friday against the background of the decreased investors’ willingness to take risks, the demand for the shelter-currencies grew. Consequently the EUR/USD pair closed the trading day at the level of $1,4200, and the GBP/USD pair traded around the $1,6550 mark.

 

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