With a more positive data on Friday as the labor market in the United States, which showed less significant than expected job losses, rising American currency continued to the beginning of the new trading week.
For example, due to optimistic forecasts about the U.S. economic recovery and growth yield debt securities of American dollar has been able to update monthly maximums against most of its major competitors. Exchange Euro /dollar fell to 1.3804 marks, pound /dollar fell to 1.5801, the dollar /franc reached a value of 1.0985.
In addition, further pressure on European currencies has had a regular for the last three months of the decision rating agency Standard Poor s sovereign credit rating downgrade from AA Ireland to AA. The complicated political situation in Britain, where the election results in the European Parliament have been quite negative Labor Party and noticeably weakened position of British Prime Minister Gordon Brown to have a negative impact on the rate of the pound.
However, the strengthening U.S. dollar, which was due to more favorable data Friday as the labor market in the United States, will soon complete izzhilo themselves.
According to analysts, investors began with great care to assess the prospects for restoring the American economy and, possibly, more rapid increases in interest rates in the United States, which led to a decline in demand for U.S. currency.
Toward the mid-week in the markets resumed trading on the difference between the interest rates.
Against the backdrop of rising oil prices and the strengthening of the stock indices, investors were once again to show the propensity to take risks. Market participants close their long positions on dollar, gradually moving their assets into euros and other risk-sensitive currencies with relatively high interest rate.
In addition, it should be noted that the European currency managed to grow despite the disappointing April data on foreign trade and industrial production in Germany.
The British pound meanwhile was able to feel quite significant support from the data on the housing market in the UK, as well as efforts by the optimism of investors with respect to Prime Minister Gordon Brown, who received support from the Labor Party of Great Britain and, apparently, to whom still managed to continue his political career in the near future.
Against this backdrop, the euro /dollar rose to 1.4143, pound /dollar reached 1.6471, the dollar /franc dropped to 1.0718.
However, the main competitors the U.S. dollar was unable to gain their levels reached, as in the afternoon of Wednesday, the situation changed again in the markets and trade on the difference between the interest rates was quite sharply reverse.
investors again began to invest in asset-asylum as soon as the shares of American companies have gone down. The impetus for this have been the results of placing 19 billion 10-year U.S. government bonds, yield on which is still looks the most attractive than the euro area.
Against this backdrop, the dollar managed to rise to the minima of this week to 1.3914 in the pair with the single currency and reached a mark 1.6240 together with the British pound. Against the Japanese yen the U.S. dollar rose to 98.43.
The interest rate the Central Bank of N. Zealand maintained the same level of 2.25%, which almost no impact on the market.
Regarding the end of the week, then that growth, which occurred on Thursday in pairs Euro /dollar and pound the dollar has been almost completely level out on Friday. The main factors that enabled a high yield currencies to strengthen its position against the U.S. dollar on Thursday began to rise of commodities and regular increase in stock indexes. But on Friday against the backdrop of not just positive data from Europe, as well as in anticipation of a meeting of finance ministers of Group of Eight for the upcoming weekend, the U.S. currency was able to play most of the losses a day earlier positions.
forecast for next week
Major world currencies are still depending on the mood of market participants. Last week showed that despite the continuing moderate growth in optimism for the strengthening of the global economy, the market is far from stability. The rapid rises of different currencies are replaced by the same rapid drop, which can not but disturb investors. In the short term are likely to expect moderate growth in the single European currency and the British pound against the U.S. dollar. Additional support them in doing so may have oil prices that have already exceeded $ 70 a barrel. Strengthening the global financial indicators should also positively affect the more highly competitive American currency.
Among the important events worth mentioning in the first scheduled for June 13-14 meeting of finance ministers of Group of Eight. Statements by the main financiers of the world tend to influence the movement of world currencies, so on Monday you can expect a fairly strong volotilnosti after the opening of the market. Among economic news scheduled for release next week, traditionally the most careful attention is given to the news from the United States, the producer price indices and consumer data on the housing sector, the change in industrial production, the balance of current account balance of payments, as well as production -Philadelphia Fed index. Among European news is worth noting, only the index of expectations from the ZEW institute in Germany and the balance of foreign trade in the euro area. Foggy Albion players will appreciate the following data: Consumer Price Index, changes in the volume of retail sales, changes in aggregate M4 money supply, as well as the Bank of England published protocol. In addition to the week the Bank of Japan will issue a decision on the basic interest rate, which, according to preliminary Pronoza, should remain unchanged at 0.1%.
Regarding ranges of motion of major currency pairs, then the following week, they are as follows: euro /dollar 1,3800-1,4500, the pound /dollar 1,6100-1,6750, dollar /yen 95.00 — 100,00.
Analytical review of the Forex market during the week from 8 to 12 June
With a more positive data on Friday as the labor market in the United States, which showed less significant than expected job losses, rising American currency continued to the beginning of the new trading week.
For example, due to optimistic forecasts about the U.S. economic recovery and growth yield debt securities of American dollar has been able to update monthly maximums against most of its major competitors. Exchange Euro /dollar fell to 1.3804 marks, pound /dollar fell to 1.5801, the dollar /franc reached a value of 1.0985.
In addition, further pressure on European currencies has had a regular for the last three months of the decision rating agency Standard Poor s sovereign credit rating downgrade from AA Ireland to AA. The complicated political situation in Britain, where the election results in the European Parliament have been quite negative Labor Party and noticeably weakened position of British Prime Minister Gordon Brown to have a negative impact on the rate of the pound.
However, the strengthening U.S. dollar, which was due to more favorable data Friday as the labor market in the United States, will soon complete izzhilo themselves.
According to analysts, investors began with great care to assess the prospects for restoring the American economy and, possibly, more rapid increases in interest rates in the United States, which led to a decline in demand for U.S. currency.
Toward the mid-week in the markets resumed trading on the difference between the interest rates.
Against the backdrop of rising oil prices and the strengthening of the stock indices, investors were once again to show the propensity to take risks. Market participants close their long positions on dollar, gradually moving their assets into euros and other risk-sensitive currencies with relatively high interest rate.
In addition, it should be noted that the European currency managed to grow despite the disappointing April data on foreign trade and industrial production in Germany.
The British pound meanwhile was able to feel quite significant support from the data on the housing market in the UK, as well as efforts by the optimism of investors with respect to Prime Minister Gordon Brown, who received support from the Labor Party of Great Britain and, apparently, to whom still managed to continue his political career in the near future.
Against this backdrop, the euro /dollar rose to 1.4143, pound /dollar reached 1.6471, the dollar /franc dropped to 1.0718.
However, the main competitors the U.S. dollar was unable to gain their levels reached, as in the afternoon of Wednesday, the situation changed again in the markets and trade on the difference between the interest rates was quite sharply reverse.
investors again began to invest in asset-asylum as soon as the shares of American companies have gone down. The impetus for this have been the results of placing 19 billion 10-year U.S. government bonds, yield on which is still looks the most attractive than the euro area.
Against this backdrop, the dollar managed to rise to the minima of this week to 1.3914 in the pair with the single currency and reached a mark 1.6240 together with the British pound. Against the Japanese yen the U.S. dollar rose to 98.43.
The interest rate the Central Bank of N. Zealand maintained the same level of 2.25%, which almost no impact on the market.
Regarding the end of the week, then that growth, which occurred on Thursday in pairs Euro /dollar and pound the dollar has been almost completely level out on Friday. The main factors that enabled a high yield currencies to strengthen its position against the U.S. dollar on Thursday began to rise of commodities and regular increase in stock indexes. But on Friday against the backdrop of not just positive data from Europe, as well as in anticipation of a meeting of finance ministers of Group of Eight for the upcoming weekend, the U.S. currency was able to play most of the losses a day earlier positions.
forecast for next week
Major world currencies are still depending on the mood of market participants. Last week showed that despite the continuing moderate growth in optimism for the strengthening of the global economy, the market is far from stability. The rapid rises of different currencies are replaced by the same rapid drop, which can not but disturb investors. In the short term are likely to expect moderate growth in the single European currency and the British pound against the U.S. dollar. Additional support them in doing so may have oil prices that have already exceeded $ 70 a barrel. Strengthening the global financial indicators should also positively affect the more highly competitive American currency.
Among the important events worth mentioning in the first scheduled for June 13-14 meeting of finance ministers of Group of Eight. Statements by the main financiers of the world tend to influence the movement of world currencies, so on Monday you can expect a fairly strong volotilnosti after the opening of the market. Among economic news scheduled for release next week, traditionally the most careful attention is given to the news from the United States, the producer price indices and consumer data on the housing sector, the change in industrial production, the balance of current account balance of payments, as well as production -Philadelphia Fed index. Among European news is worth noting, only the index of expectations from the ZEW institute in Germany and the balance of foreign trade in the euro area. Foggy Albion players will appreciate the following data: Consumer Price Index, changes in the volume of retail sales, changes in aggregate M4 money supply, as well as the Bank of England published protocol. In addition to the week the Bank of Japan will issue a decision on the basic interest rate, which, according to preliminary Pronoza, should remain unchanged at 0.1%.
Regarding ranges of motion of major currency pairs, then the following week, they are as follows: euro /dollar 1,3800-1,4500, the pound /dollar 1,6100-1,6750, dollar /yen 95.00 — 100,00.
Significant reduction in the paper today, may be subject to the banks and neftyanka, the market will look better than Gazprom
Opening of Russia's bid is expected to gepom down, the next goal of reducing - 1100-1110, 1080 items on the MICEX index
Today, the main pressure on the Russian securities indexes and oil and gas companies will provide desheveyuschaya oil
Today is expected to open bidding slightly below the previous closing levels on the Russian stock market
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