At the auction on Tuesday the U.S. dollar regained some losses incurred in previous trading sessions. This pair of EUR /USD fell to 1.4130 area, after reaching a new maximum of 1.4304, a pair GBP /USD rolled toward 1.6390, a couple of USD /CHF rose to 1.0790.
Japanese yen remained under pressure against other currencies. This quotes a pair USD /JPY fell to 94.02, a pair of EUR /JPY stood at around 132.88.
Commodity currencies included in the phase of correction against the U.S. dollar. Thus, the pair AUD /USD has reached 0.8222 marks, a pair NZD /USD has at least 0.6538, and the pair USD /CAD rose to 1.0907 marks.
Causes
On Tuesday 28 July, at the tender propensity of investors to risk has subsided slightly, so help out of Great Britain and the United States, thereby improving sentiment on the dollar. Thus, the balance of the Confederation of British Industry sales for July fell from -15 up to -17 (forecast -9), and the index of business activity FRB Richmond rose in July to 14 bp 6 bp (forecast 8 bp). The strengthening U.S. currency has also contributed to the technical picture of the currency pairs.
What to expect?
Perspectives U.S. currency remained positive. Received from the U.S. economy data on commercial oil stocks have started to adjust the prices of oil and the foreign exchange market in the U.S.. The situation is unlikely to change at the next trading session, as now planned publication of official statistics from the Ministry of Petroleum United States, to which most attention will be riveted on the market. Also worth paying attention to the withdrawal of Great Britain, namely the core consumer price index for June.
What is fear?
From the technical point of view a correction for many currency pairs, as well as commodity tools comes to an end, and the output data, not forecasts of market participants, could lead to further thickening clouds over American currency.
Review of the FOREX market for 28.07.09
Dynamics
At the auction on Tuesday the U.S. dollar regained some losses incurred in previous trading sessions. This pair of EUR /USD fell to 1.4130 area, after reaching a new maximum of 1.4304, a pair GBP /USD rolled toward 1.6390, a couple of USD /CHF rose to 1.0790.
Japanese yen remained under pressure against other currencies. This quotes a pair USD /JPY fell to 94.02, a pair of EUR /JPY stood at around 132.88.
Commodity currencies included in the phase of correction against the U.S. dollar. Thus, the pair AUD /USD has reached 0.8222 marks, a pair NZD /USD has at least 0.6538, and the pair USD /CAD rose to 1.0907 marks.
Causes
On Tuesday 28 July, at the tender propensity of investors to risk has subsided slightly, so help out of Great Britain and the United States, thereby improving sentiment on the dollar. Thus, the balance of the Confederation of British Industry sales for July fell from -15 up to -17 (forecast -9), and the index of business activity FRB Richmond rose in July to 14 bp 6 bp (forecast 8 bp). The strengthening U.S. currency has also contributed to the technical picture of the currency pairs.
What to expect?
Perspectives U.S. currency remained positive. Received from the U.S. economy data on commercial oil stocks have started to adjust the prices of oil and the foreign exchange market in the U.S.. The situation is unlikely to change at the next trading session, as now planned publication of official statistics from the Ministry of Petroleum United States, to which most attention will be riveted on the market. Also worth paying attention to the withdrawal of Great Britain, namely the core consumer price index for June.
What is fear?
From the technical point of view a correction for many currency pairs, as well as commodity tools comes to an end, and the output data, not forecasts of market participants, could lead to further thickening clouds over American currency.
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