Review of the FOREX market for 01.07.09
By admin at 2 July, 2009, 2:14 pm
Dynamics
irregular trading in the U.S. are continuing. This pair of EUR /USD, after growth fell to 1.4200 to the 1.4100 mark, a pair GBP /USD traded in a range of about 1.6450, and the pair USD /CHF recovered to 1.0800 after lowering the mark to 1.0700. Japanese yen is held in a range against the dollar, but lost its position against the euro. This pair USD /JPY trading below 97.00, a pair of EUR /JPY rose above 136.00. Commodity currencies traded against the U.S. dollar raznonapravleno. Thus, the pair AUD /USD traded in a range slightly above the 0.8000, a pair NZD /USD fell below 0.6400, and the pair USD /CAD has fallen to 1.1440.
Causes
Yesterday morning the dollar has fallen, have been under pressure against the backdrop of favorable data published indexes of supply managers in the manufacturing industry eurozone and Britain, which helped to increase the propensity of investors to take risks. However, early in the New York session, the situation has changed, as well as data published in the United States, have fallen short of projections, which contributed to the shift to buying the dollar. In particular, the reduction in the number of jobs in the private sector of the U.S. in June was more significant than expected. Nevertheless, despite the fluctuations, many couples do not leave the U.S. current ranges.
What to expect?
Today, a key risk factor for the dollar will be data on the number of jobs outside of agriculture United States, while the euro will be determined by the outcome of meetings of the ECB. Most likely, the rate in the euro zone will remain unchanged, and market participants are waiting for the traditional press conference chapter ECB Jean-Claude Trichet. The first of all interested in any details regarding the ECB's plan to acquire secured bond in the amount of 60 billion euros, namely, the maturity of the bonds, planned for purchases, the extent of the new issue of the ECB will begin, and how it will ensure a balance of risks to the euro .
Both of these events can bring the market out of equilibrium, vytolknuv relevant currency from the ranges in which they are traded on the last time. However, to determine the direction of future bidding was not possible. It should be borne in mind that tomorrow's U.S. holiday, and that of today and tomorrow will be limited, that in any event would enhance volatility.
What is fear?
There remains the situation around the U.S. dollar remains uncertain, but current events may provoke a sharp increase in volatility in a low volume of trades.
Europe vs. United States
Yesterday, a pair of Euro /dollar rose in the U.S. session to 1.4199
European companies are increasingly using bonds as a funding source
Victor Lozinsky prepared surrender
The ECB will keep rates unchanged, will have to consider other measures
Will any other loan?
The continued drift of the oil and gas sector in the paper does not allow for successful restoration of Russian market
The potential for reducing the cost of the shares of Sberbank is about 6.7% to 36.8 rubles
The nearest support for futures on RTS index is currently situated in the vicinity of 93 500-94 000 points
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