On Friday the euro depreciated significantly against the greenback. The reason was in American statistical data, the number of payrolls increased, but markets expected their fall. In Europe the rate EUR/USD opened at 1.1691, the dollar lost to 1.1721 in the morning but closed at 1.1569 in the afternoon. It opened at 1.1700 in the U.S. and closed at 1.1580. The exchange pair began at about 1.1562 this morning and should stay in a range of 1.15 and 1.16. We expect retail sales in the EMU to be released today; only positive data should change the mood against the dollar.
CSOB, Investment Research