09.02.201810:06 Forex Analysis & Reviews: The euro seized the bottom

Despite the good data on the labor market in the U.S., the greenback buyers stopped near large support levels, which indicates a limited demand.

According to the report of the U.S. Department of Labor, the number of initial applications for unemployment benefits for the week from January 28 to February 3 fell by 9,000 and amounted to 221,000. Economists had expected the number of applications to be 231,000.

It is worth noting that the temporary support for the U.S. dollar continues to be shored up by news wherein the U.S. Senate approved a two-year budget agreement, which saves the US government from a number of current problems.

The speech of Fed representatives did not give much support to the US dollar, which took place throughout yesterday since most of them spoke about the same thing.

Basically, it was about inflation and some evidence of its growth, but the prospects for a more powerful recovery in inflationary pressures are still surrounded by considerable uncertainty.

Today, the announcement of a monetary rate from the Reserve Bank of Australia was held. The RBA said that achieving full employment would be impossible for some time, and unemployment could reach 5.25% by the end of 2018. The regulator also expects that annual inflation will be at the level of 2.25% by mid-2020.

The above report did not have a significant impact on the quotes of the Australian dollar.

Additional pressure on the AUD / USD pair could be provided by data that the annual growth in consumer prices in China slowed to a 7-month low. This happened because of the weakened food prices.

According to the National Bureau of Statistics, China's consumer price index rose by 1.5% in January this year compared to the same period last year after rising by 1.8% in December. Prices for food decreased by 0.5%, while prices for non-food products increased by 2.0% in January. Economists had expected the annual rate of inflation also at 1.5% in comparison to December last year where the CPI grew by 0.6%.

The Canadian dollar continues to decline against the US dollar.

Yesterday's data on housing starts for new homes in Canada for the month of January had no effect on the USD/CAD pair, which shows growth against the backdrop of a decline in oil quotations.

According to the report, the laying of new houses fell by 0.03% compared to December and amounted to 216,210 per year. Economists had expected the bookmarks to be 210,000. The average sliding housing starts for six months was 224,865.