dollar regained a little attitude. This pair of EUR /USD fell to 1.4120 area, after reaching a new maximum of 1.4290, a pair GBP /USD remains in the range of about 1.6500, and the pair USD /CHF recovered above 1.0700 marks.
Japanese yen, in contrast, continued to lose positions. This pair USD /JPY broke the 95.00 mark, a pair of EUR /JPY short-term notes rose above 135.00.
Commodity currencies fell slightly against the dollar. Thus, the pair AUD /USD fell to 0.8100 mark, a pair NZD /USD almost reached 0.6500 marks, a couple of USD /CAD recovered in the area of 1.0900 after falling to 1.0840.
Causes
The tendency of investors to risk the day before remained at a high level. It helped to enhance the data published in the United States. However, this did not lead to further weakening of the dollar position. On the contrary, the U.S. currency has been able to strengthen towards the end of the session by returning part of the lost positions. Perhaps, the market started to overestimate their attitude to the dollar, as published data indicate a favorable early recovery of the U.S. economy that could eventually allow American slight advantage against, for example, the European currencies. Technical factors also had little support for the dollar. In addition, the relatively small volume of trades contributed to intraday volatility.
What to expect?
Today in the United States is not expected to publish a large number of macroeconomic data. Interest will represent the index of consumer confidence from the University of Michigan, but he is unlikely to have a noticeable impact on the dollar. At the same time, a series of important indicators will be published in Europe. In particular, in Germany today, will be presented Indexes Ifo, while the euro will be the preliminary indices of supply managers PMI for the manufacturing and service sectors. If the actual figures will justify a favorable prognosis, or will better Euro may resume its rise against the dollar, while the negative data will speed up the adjustment of its position. In Britain today, will be presented to the first estimate of GDP in the II quarter. It was expected that the quarterly rate of decline will decrease, but the data may differ from the projections, which may provoke strong and multidirectional changes in the status of the British currency.
What is fear?
negative data and technical factors may contribute to the further recovery of the United States dollar.
Review of the FOREX market for 23.07.09
Dynamics
dollar regained a little attitude. This pair of EUR /USD fell to 1.4120 area, after reaching a new maximum of 1.4290, a pair GBP /USD remains in the range of about 1.6500, and the pair USD /CHF recovered above 1.0700 marks.
Japanese yen, in contrast, continued to lose positions. This pair USD /JPY broke the 95.00 mark, a pair of EUR /JPY short-term notes rose above 135.00.
Commodity currencies fell slightly against the dollar. Thus, the pair AUD /USD fell to 0.8100 mark, a pair NZD /USD almost reached 0.6500 marks, a couple of USD /CAD recovered in the area of 1.0900 after falling to 1.0840.
Causes
The tendency of investors to risk the day before remained at a high level. It helped to enhance the data published in the United States. However, this did not lead to further weakening of the dollar position. On the contrary, the U.S. currency has been able to strengthen towards the end of the session by returning part of the lost positions. Perhaps, the market started to overestimate their attitude to the dollar, as published data indicate a favorable early recovery of the U.S. economy that could eventually allow American slight advantage against, for example, the European currencies. Technical factors also had little support for the dollar. In addition, the relatively small volume of trades contributed to intraday volatility.
What to expect?
Today in the United States is not expected to publish a large number of macroeconomic data. Interest will represent the index of consumer confidence from the University of Michigan, but he is unlikely to have a noticeable impact on the dollar. At the same time, a series of important indicators will be published in Europe. In particular, in Germany today, will be presented Indexes Ifo, while the euro will be the preliminary indices of supply managers PMI for the manufacturing and service sectors. If the actual figures will justify a favorable prognosis, or will better Euro may resume its rise against the dollar, while the negative data will speed up the adjustment of its position. In Britain today, will be presented to the first estimate of GDP in the II quarter. It was expected that the quarterly rate of decline will decrease, but the data may differ from the projections, which may provoke strong and multidirectional changes in the status of the British currency.
What is fear?
negative data and technical factors may contribute to the further recovery of the United States dollar.
The absence of news that can support the trading activity may help correct the beginning of the Russian stock market
Significantly better than the market now looks like the oil sector: shares of Lukoil added 0.07%, Surgutneftegaz - 2.02%
Recommendations for futures on RTS index on Friday
The Russian market today, will probably stay near the closing levels Thursday
Ruble close to equilibrium
In the 1 half of 2009, TGC-2 has reduced power generation at 11.27% to 5.05 billion kWh
Latvia and the EBRD signed an agreement to sell 25% stake in Parex banka
FBI agents arrested 44 people, including Mayors, who are accused of corruption
Natural persons in Belarus are not loans in foreign currency