U.S. dollar ended the day surge against most other major currencies. When the pair EUR /USD fell to a mark 1.4600, the pair GBP /USD fell to 1.5900, and the pair USD /CHF above 1.0300. Japanese yen strengthened its position against other currencies. When the pair USD /JPY is still below the 91.00, and the pair EUR /JPY close to 133.00 mark. Commodity currencies fell against the U.S. dollar. Thus, the pair AUD /USD was around 0.8600 marks, a pair NZD /USD fell to 0.7100, and the pair USD /CAD rose to 1.0950.
reasons.
investor sentiment deteriorated again after the data on the housing market in the United States were worse than expected. This provoked a sharp decline in stock indexes, commodity prices and the closing of short positions on the dollar. The British pound and Canadian dollar showed particularly negative dynamics. The British currency has suffered against the backdrop of speculation that the Bank of England is satisfied with the observed recent lower levels of the pound rate, while the Canadian dollar has negatively affected a sharp decline in crude oil quotations.
What to expect?
higher-yielding currencies began to experience difficulties, since the increase in willingness to risk gradually fizzles out, while the negative data encouraged investors to return to the dollar, as the asset of refuge. Nevertheless, it is expected that the growth of the dollar will be short-lived. Market participants are consolidating their positions and wait for the new optimistic economic news in order to continue to open new long positions in higher-yielding currencies.
Today in the United States will be published data on orders for durable goods and sales in the primary housing market in August and the final index of consumer sentiment is the University of Michigan in September. In the event of strong performance, investors will have a new reason for buying the dollar.
Why worry?
Weak data could trigger another wave of rejection of the risk and buy the U.S. dollar, as well as lead to another surge in volatility.
Review of the FOREX market for 24.09.09
Dynamics.
U.S. dollar ended the day surge against most other major currencies. When the pair EUR /USD fell to a mark 1.4600, the pair GBP /USD fell to 1.5900, and the pair USD /CHF above 1.0300. Japanese yen strengthened its position against other currencies. When the pair USD /JPY is still below the 91.00, and the pair EUR /JPY close to 133.00 mark. Commodity currencies fell against the U.S. dollar. Thus, the pair AUD /USD was around 0.8600 marks, a pair NZD /USD fell to 0.7100, and the pair USD /CAD rose to 1.0950.
reasons.
investor sentiment deteriorated again after the data on the housing market in the United States were worse than expected. This provoked a sharp decline in stock indexes, commodity prices and the closing of short positions on the dollar. The British pound and Canadian dollar showed particularly negative dynamics. The British currency has suffered against the backdrop of speculation that the Bank of England is satisfied with the observed recent lower levels of the pound rate, while the Canadian dollar has negatively affected a sharp decline in crude oil quotations.
What to expect?
higher-yielding currencies began to experience difficulties, since the increase in willingness to risk gradually fizzles out, while the negative data encouraged investors to return to the dollar, as the asset of refuge. Nevertheless, it is expected that the growth of the dollar will be short-lived. Market participants are consolidating their positions and wait for the new optimistic economic news in order to continue to open new long positions in higher-yielding currencies.
Today in the United States will be published data on orders for durable goods and sales in the primary housing market in August and the final index of consumer sentiment is the University of Michigan in September. In the event of strong performance, investors will have a new reason for buying the dollar.
Why worry?
Weak data could trigger another wave of rejection of the risk and buy the U.S. dollar, as well as lead to another surge in volatility.
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