The dollar simply had to surrender his position, considering how weak were the data on activity in the services sector. Generally, it was assumed that the index will continue to strengthen, but there it was. In April, the activity in the U.S. service sector growth slowed to their lowest in 8 months amid falling orders. ISM index for services fell to 52.8 against 57.3 in March. Indicator of new orders fell the most since the beginning of research in 1997. In addition, as significant for predicting outcomes of NFP employment component also reflected the fall to 51.9 against 53.7. Just a couple of these reports, and all hope that GDP growth will recover quickly, will be wiped out.If we talk about the job market, here we have another disappointment. As reported by the employment service ADP, in the private sector of the U.S. was founded 179 thousand, while analysts expected the index value of 200 thousand only "a spoonful of honey" were the results of studies of volumes planned layoffs from Challenger, which confirmed the reduction of their number to 36,490 against 41,528 in March.
Nevertheless, the loss of bucks were limited by the fact that the key events of the week are scheduled for Thursday and Friday. Players are wary of radical breakthroughs in light of the uncertainty regarding the future position of the ECB, as well as the difficulty of forecasting the direction of NFP in the U.S.. That is, we believe, stopped a couple of euro / dollar from breaking through the 1.49 mark. Rumors about the June rate hike by the European central bank have died down after the decline of commodity prices, so the intrigue remains.
