Dynamics slightly adjusted the dollar against other currencies. When the pair EUR /USD rebounded above the 1.3900 mark, the pair GBP /USD above 1.5830 restrained, and the pair USD /CHF consolidated in the range below 1.0600. Japanese yen fell against other currencies. When the pair USD /JPY once again approaching a mark of 91.00, and the pair EUR /JPY rose above 126.00. Commodity currencies rose slightly against the U.S. dollar. Thus, the pair AUD /USD short-term notes rose above 0.8900, but this morning once again fell into the 0.8800 region, a pair NZD /USD recovered to 0.7100, and the pair USD /CAD 1.0600 was released in the area.
Causes On the eve of investors took a break and were limited to buying the U.S. dollar, despite the received favorable news from the country”s economy. In particular, calculated by the Institute for Supply Management index of business activity in the industrial sphere exceeded the forecast and reached its highest level since August 2004. Earlier in the day were published PMI in industry eurozone, which also were higher than preliminary estimates. All this has increased optimism and appetite for risk, resulting in shares and risk-sensitive currencies rose slightly. At the same time, the British pound was unable to sufficiently support the general trend. Investors sold the pound in relation to the uncertainty as to whether the Bank of England will complete its program of quantitative easing, and how this may affect the sustainability of economic recovery. In addition, the relatively weak data on lending, submitted on Monday, an additional pressure on the pound. This morning the Australian dollar came under significant downward pressure after the Reserve Bank of Australia unexpectedly kept key rates unchanged, while market participants expect further tightening of monetary policy.
What to expect? Today is expected to reach the market a large volume of new macroeconomic news. Thus investors” attention focused on the meetings of euro zone central banks and the UK, as well as the publication of data as the labor market in the U.S., which will be held later in the week. These developments will set new directions for bidding, whereas before, investors are likely to exercise restraint, but the overall positive mood and increased appetite for risk may have some pressure on the dollar, bringing its correction will continue. Nevertheless, this trend is still valued as short-term.
from macroeconomic data to anticipate interest will be the index of signed contracts for the sale of the housing market in the U.S. and the euro zone producer price index. Against the backdrop of favorable data from the U.S. U.S. currency may get some support, whereas the data from the eurozone is likely to have a very limited impact on the euro. &lc09t;br /> Why worry? medium-term risks to the U.S. dollar balance, but in the short term can not be excluded volatile changes in his positions on the background of changes in investor sentiment before the publication of important data.
Review of the FOREX market for 01.02.10
Dynamics
slightly adjusted the dollar against other currencies. When the pair EUR /USD rebounded above the 1.3900 mark, the pair GBP /USD above 1.5830 restrained, and the pair USD /CHF consolidated in the range below 1.0600. Japanese yen fell against other currencies. When the pair USD /JPY once again approaching a mark of 91.00, and the pair EUR /JPY rose above 126.00. Commodity currencies rose slightly against the U.S. dollar. Thus, the pair AUD /USD short-term notes rose above 0.8900, but this morning once again fell into the 0.8800 region, a pair NZD /USD recovered to 0.7100, and the pair USD /CAD 1.0600 was released in the area.
Causes
On the eve of investors took a break and were limited to buying the U.S. dollar, despite the received favorable news from the country”s economy. In particular, calculated by the Institute for Supply Management index of business activity in the industrial sphere exceeded the forecast and reached its highest level since August 2004. Earlier in the day were published PMI in industry eurozone, which also were higher than preliminary estimates. All this has increased optimism and appetite for risk, resulting in shares and risk-sensitive currencies rose slightly.
At the same time, the British pound was unable to sufficiently support the general trend. Investors sold the pound in relation to the uncertainty as to whether the Bank of England will complete its program of quantitative easing, and how this may affect the sustainability of economic recovery. In addition, the relatively weak data on lending, submitted on Monday, an additional pressure on the pound.
This morning the Australian dollar came under significant downward pressure after the Reserve Bank of Australia unexpectedly kept key rates unchanged, while market participants expect further tightening of monetary policy.
What to expect?
Today is expected to reach the market a large volume of new macroeconomic news. Thus investors” attention focused on the meetings of euro zone central banks and the UK, as well as the publication of data as the labor market in the U.S., which will be held later in the week. These developments will set new directions for bidding, whereas before, investors are likely to exercise restraint, but the overall positive mood and increased appetite for risk may have some pressure on the dollar, bringing its correction will continue. Nevertheless, this trend is still valued as short-term.
from macroeconomic data to anticipate interest will be the index of signed contracts for the sale of the housing market in the U.S. and the euro zone producer price index. Against the backdrop of favorable data from the U.S. U.S. currency may get some support, whereas the data from the eurozone is likely to have a very limited impact on the euro.
&lc09t;br /> Why worry?
medium-term risks to the U.S. dollar balance, but in the short term can not be excluded volatile changes in his positions on the background of changes in investor sentiment before the publication of important data.
Yesterday”s burst of optimism on the U.S. market does not put an end to further negative developments
If you will be able to defend the gains of the morning, one afternoon at Russia”s stock market may be seen major purchases
Positive attitude can be broken in the event of a market-negative news
Today the market is expected to increase oil and gas and metallurgical sectors
Siberian branch of Megafon launched a full-fledged 3G network in the Kemerovo and Novosibirsk regions
CMI in 2009, reducing the production of steel and commercial products by 20% to 9.6 million tons and 8.8 million tons, respectively
Forex Market 02/02/2010
Antimonopoly Committee recommended a new procedure for calculating the cost of lease trading places on the markets
Government overfulfilling budget due to advances