Data on the labor market can trigger the growth of volatility

Deutsche Bank currency strategist noted that so far the fundamental factors that indicate the possibility of appreciable change in the currency market soon, was not observed, but the volatility indicators signal that the risks out of the euro settled range. The bank drew attention to the fact that the negative signals from the relevant economic statistics can be a catalyst for a movement or to support the dollar, and advised to closely monitor reports on the U.S. labor market. The latter, according to analysts, will point to the reduction in the number of jobs in August at 230 000 and rising unemployment from 9.4% to 9.5%. However, if the market will see stronger performance, appetite for risk may be exacerbated, and analysts at Calyon such developments is recommended to monitor the resistance around $ 1.4340. If the bulls can end the day and week above this mark, next week the positive dynamics can be pursued further, but at Calyon not yet expect to see substantial strengthening of the euro.