During the Asian trading session on Monday the dollar was able to somewhat stronger after what happened at the end of the week rollback. To strengthen the position of the American currency has affected resonance caused by the publication of the Deputy Head of International Department of China's state foreign exchange control (State Administration of Foreign Exchange) TOV. Guan Tao, who is heading the magazine Chinamoney Magazine expressed confidence about the position of the dollar in the near future. According to Guan Tao, the U.S. dollar retain its status as world reserve currency. Also, be ignored the statement made on Sunday during an interview the Chairman of the People's Bank of China Zhou Syaochuanem, who assured journalists that the monetary and reserve policy of China is always quite stable, and this excludes the possibility of any sudden change. Under pressure from these new allegations of Chinese pair euro /dollar by the end of the Asian session, rolls back to the daily minimum at around 1.3981, the pound weakened to 1.6427, and the pair dollar /franc climbed to 1.0911.
Published index of confidence in the economic sphere, the euro has shown the importance of 73.3 (higher than the forecast value of 71.0), which allowed traders to re-establish confidence and to initiate the movement of quotations European currencies to the growth. Opening of the American stock markets a significant increase in the desire of investors to risk has increased, resulting in the euro offset the decline, reaching a daily peak at around 1.4102, the pound said maximum 1.6585, franc strengthened to 1.0807, and the Japanese yen weakened to 96.16 marks.
forecast Tuesday, June 30
From the economic data published on Tuesday, is worth noting the price index for shelter from the Nat wide, as well as data on the GDP of Great Britain, the data on unemployment in Germany, the changing unit M3 money supply data on inflation in the euro area, theindicator U.S. consumer confidence index and the Chicago PMI.
If the economic data will maintain the confidence of traders, the U.S. expects continued weakening of the currency, the euro will overcome the resistance of 1.4100, and try to gain above this level, further testing the resistance of 1.4150. The forecasted values of economic data for the UK are less optimistic than for the euro, so the next test of resistance to 1.6600 for the pound is unlikely consolidation above this level. In addition, as a recent announcement by the Bank of England chief economist Spencer Dale, that weak pound would be a key channel to promote economic growth, analysts Forex Club does not exclude the possibility of reaction of the bank, while further strengthening the currency.
For a pair of dollar /franc may decline to 1.0750, while resistance to make the level of 1.0900. The Japanese yen after the probable correction of waiting continued weakening, as well as in maintaining the confidence of traders would continue the withdrawal of funds from the Japanese currency in more profitable assets. A likely range for the pair will be 95.80-96.50.
For a pair of dollar / franc may decline to 1.0750
During the Asian trading session on Monday the dollar was able to somewhat stronger after what happened at the end of the week rollback. To strengthen the position of the American currency has affected resonance caused by the publication of the Deputy Head of International Department of China's state foreign exchange control (State Administration of Foreign Exchange) TOV. Guan Tao, who is heading the magazine Chinamoney Magazine expressed confidence about the position of the dollar in the near future. According to Guan Tao, the U.S. dollar retain its status as world reserve currency. Also, be ignored the statement made on Sunday during an interview the Chairman of the People's Bank of China Zhou Syaochuanem, who assured journalists that the monetary and reserve policy of China is always quite stable, and this excludes the possibility of any sudden change. Under pressure from these new allegations of Chinese pair euro /dollar by the end of the Asian session, rolls back to the daily minimum at around 1.3981, the pound weakened to 1.6427, and the pair dollar /franc climbed to 1.0911.
Published index of confidence in the economic sphere, the euro has shown the importance of 73.3 (higher than the forecast value of 71.0), which allowed traders to re-establish confidence and to initiate the movement of quotations European currencies to the growth. Opening of the American stock markets a significant increase in the desire of investors to risk has increased, resulting in the euro offset the decline, reaching a daily peak at around 1.4102, the pound said maximum 1.6585, franc strengthened to 1.0807, and the Japanese yen weakened to 96.16 marks.
forecast Tuesday, June 30
From the economic data published on Tuesday, is worth noting the price index for shelter from the Nat wide, as well as data on the GDP of Great Britain, the data on unemployment in Germany, the changing unit M3 money supply data on inflation in the euro area, theindicator U.S. consumer confidence index and the Chicago PMI.
If the economic data will maintain the confidence of traders, the U.S. expects continued weakening of the currency, the euro will overcome the resistance of 1.4100, and try to gain above this level, further testing the resistance of 1.4150. The forecasted values of economic data for the UK are less optimistic than for the euro, so the next test of resistance to 1.6600 for the pound is unlikely consolidation above this level. In addition, as a recent announcement by the Bank of England chief economist Spencer Dale, that weak pound would be a key channel to promote economic growth, analysts Forex Club does not exclude the possibility of reaction of the bank, while further strengthening the currency.
For a pair of dollar /franc may decline to 1.0750, while resistance to make the level of 1.0900. The Japanese yen after the probable correction of waiting continued weakening, as well as in maintaining the confidence of traders would continue the withdrawal of funds from the Japanese currency in more profitable assets. A likely range for the pair will be 95.80-96.50.
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