American focus: the dollar weakened on employment data

The U.S. dollar fell against major currencies after the jobs report was weaker than expected. According to a report on the results of August, the number of people employed in non-agricultural sectors increased by 169 thousand , while the figure for the previous month was revised down to 104 thousand from 162 thousand According to experts , the value of this index would grow in August to 181 thousand note that the latest report shows that the recovery in the labor market is gaining momentum and potentially complicate plans by the Federal reserve to begin to reduce the amount of its asset-purchase program . Meanwhile, the report showed that despite the revision and a smaller increase in the number of employed, the unemployment rate fell in August to a level 7.3% from 7.4 % in July.

Earlier, the dollar rose against the euro, which was partly due to the release of weak data on Germany. Preliminary data , which were announced today by the Federal Statistical Office or Destatis, showed Germany's trade surplus narrowed in July . Exports of goods decreased by 1.1 % m / m in July , while imports increased by 0.5 %. The adjusted trade balance of the country amounted to 14.5 billion euros in July , which was below the expectations of experts at the level of 15.9 billion dollars. The trade balance for June was revised up to 15.8 billion euros from 15.7 billion previously .

In addition , the pressure on the European currency had data on industrial production . As it became known , the volume of industrial production in Germany fell in July 2013 by 1.7 % compared with the previous month , when its growth was 2 %. This decline was the highest since April 2012 . Analysts had expected a decline in the index of only 0.3%.

Value of the pound against the dollar earlier fell against the background of large amounts of data across Britain , which, in general, were worse than expected .

The Office for National Statistics reported that up to July, the amount of British industrial production remained unchanged, while the trade deficit has increased significantly . It should be noted that experts predict the volume of production in the industrial sector , accounting for about one-sixth of the British economy should have grown by 0.2 %. We also add that the figure for the previous month was revised upwards from 1.1 % to 1.3 %.

Meanwhile, it was reported that the production in the manufacturing sector grew in July by 0.2 %, compared with a forecast of 0.4 %. The last reading was also much lower than the growth the previous month - by 2.0 % , which was revised up from 1.9 %.

Experts point out that in recent months traced surprisingly strong signs of recovery of the British economy. Against this background , it is expected that the growth in the third quarter to continue and accelerate its growth as compared to the second quarter, in which the economy grew by 0.7 %. The Bank of England last month pledged to keep interest rates unchanged until the unemployment rate falls to 7%, and according to the latest data , there is a possibility that rates could rise as early as next year.

In addition, we note that even some data presented today showed that the deficit in trade in goods of Great Britain rose to 9.85 billion pounds in July , after a sharp decline in June - to 8.2 billion Many experts predicted that the deficit will increase slightly - to the level of 8.2 billion from 8.1 billion , which was originally reported last month .

The Canadian dollar was higher against the U.S. dollar , supported by strong labor market data and the index of business activity. According to the latest data , which were presented earlier by Statistics Canada , at the end of last month, the number of jobs has increased substantially , almost twice the estimates of experts , which followed after a significant decline in July.

The report showed that the Canadian economy added 59,200 new jobs last month, after a decline of 39,400 jobs in July . According to economists, the number of employees had increased by 30.2 thousand Meanwhile, adding that the biggest surprise for many was the decline in the unemployment rate - to the level of 7.1% from 7.2 % in July. Many traders did not predict any change in the level of unemployment.

As the results of studies that have been presented by the Association of Purchasing Managers Canada and the Richard Ivey School of Business , at the end of last month Managers Index rose , climbing above 50 , indicating that purchasing activity in Canada has grown since July.

According to the report , the August PMI rose to a level of 51.0 , up from 48.4 in July. It is worth noting that many experts had expected growth of this index to 55.1 .