European Major Currencies Stay Firm

Market Reviews

The euro and the British pound remain the strongest major currencies. The dollar is stable at the beginning of the session in the US, despite the fact that the ADP employment report showed that employment growth in the private sector of the US was 178 thousand in July, which is lower than the expectations of 190 thousand. But still, the US dollar remains under the influence of the policy of Donald Trump.

The growth in activity in the UK construction sector fell to an 11-month low in July. IHS Markit data showed that the UK construction PMI fell more than expected to 51.9 in July from 54.8 in June.

Prices for crude oil retreated after a 6-day growth. The data of the American Petroleum Institute (API) showed an increase in oil reserves in the US. OPEC oil production increased by 0.09 billion barrels per day in July, to 33 million barrels per day.