On Friday the investors started to close the positions. The euro dropped 62 points. Today at 16:30 UTC+4 US data on Nonfarm Payrolls in September is published. It is expected to be 180K vs. 169K in August. Factory orders are expected to grow 0.3% vs. decline for 2.4% in July. This week all the statistics on the US is expected to be better than the previous reading. Every day situation with US budget is getting better; there will be increase of the national debt ceiling and other concessions made by the republicans are expected. If the budget problem is solved, i.e. the budget ceiling is raised and financing facility of the budget, then trimming of QE3 may be announced earlier than the decision taken on December, in October 30, in November there will be no meeting. We expect the consolidation of the US dollar. Today amid strong data on labor we expect the euro will again drop to the area 1.3537/42. If the rate consolidates under it, then the target 1.3487, support of trend line on the daily chart, opens. If data on Nonfarm Payrolls is worse than expected, then short-term upward movement to the targets 1.3600 and 1.3620 is expected. However, there is possibility that initial intention of the US Department of Labor to issue data on labor today may be shifted to Tuesday or Wednesday.
