At the auction on Friday 31 July, the U.S. dollar has suffered considerable losses. This pair of EUR /USD showed a maximum at 1.4278, followed by continued consolidation at the level of 1.4250, a pair GBP /USD jumped to a mark 1.6733, a couple of USD /CHF fell to 1.0656.
Japanese yen remained under pressure against other currencies, but later strengthened against the U.S. dollar. This quotes a pair USD /JPY reached the mark of 94.48, a pair of EUR /JPY has a maximum at around 135.54.
Commodity currencies also strengthened against the dollar, but each in its own way. Thus, the pair AUD /USD has reached 0.8366 marks, a pair NZD /USD has a maximum of 0.6625, a couple of USD /CAD down 1.0762 to the mark.
Causes
On Friday 31 July, before the GDP data for the U.S. trades were relatively quiet, but the dollar was already under pressure. Subsequently, the dollar and the yen fell against the euro after U.S. data on GDP, which were better than forecasts, and much better than the first quarter. This reduced the need for a currency of refuge. According to preliminary data, GDP for the United States from April to June fell by 1%. Pound, plus the whole, remained supported statdannymi, which showed that the index of consumer confidence remained at a maximum with the April 2008 level, thereby showing that the recession in the UK economy is slowing.
What to expect?
According to analysts estimated the United States economy has reached bottom, but the recovery, however, will be slow. The reason for this is the unemployment rate which at the beginning of 2010 may exceed 10%. Against this backdrop, many traders will close positions on the dollar, but may increase the flow of funds perepozitsionirovaniya market participants. The focus is on Monday to give the following output data: the index of supply managers in the manufacturing sector of Germany and the euro area, as well as the production index of the Institute of management dollars.
What is fear?
significant growth over the risky asset has a chance of technical correction, which can be supported by adjustments to the neighboring markets, as well as leaving negative statdannyh.
Review of the FOREX market for 31.07.09
Dynamics
At the auction on Friday 31 July, the U.S. dollar has suffered considerable losses. This pair of EUR /USD showed a maximum at 1.4278, followed by continued consolidation at the level of 1.4250, a pair GBP /USD jumped to a mark 1.6733, a couple of USD /CHF fell to 1.0656.
Japanese yen remained under pressure against other currencies, but later strengthened against the U.S. dollar. This quotes a pair USD /JPY reached the mark of 94.48, a pair of EUR /JPY has a maximum at around 135.54.
Commodity currencies also strengthened against the dollar, but each in its own way. Thus, the pair AUD /USD has reached 0.8366 marks, a pair NZD /USD has a maximum of 0.6625, a couple of USD /CAD down 1.0762 to the mark.
Causes
On Friday 31 July, before the GDP data for the U.S. trades were relatively quiet, but the dollar was already under pressure. Subsequently, the dollar and the yen fell against the euro after U.S. data on GDP, which were better than forecasts, and much better than the first quarter. This reduced the need for a currency of refuge. According to preliminary data, GDP for the United States from April to June fell by 1%. Pound, plus the whole, remained supported statdannymi, which showed that the index of consumer confidence remained at a maximum with the April 2008 level, thereby showing that the recession in the UK economy is slowing.
What to expect?
According to analysts estimated the United States economy has reached bottom, but the recovery, however, will be slow. The reason for this is the unemployment rate which at the beginning of 2010 may exceed 10%. Against this backdrop, many traders will close positions on the dollar, but may increase the flow of funds perepozitsionirovaniya market participants. The focus is on Monday to give the following output data: the index of supply managers in the manufacturing sector of Germany and the euro area, as well as the production index of the Institute of management dollars.
What is fear?
significant growth over the risky asset has a chance of technical correction, which can be supported by adjustments to the neighboring markets, as well as leaving negative statdannyh.
Of the sectors that can support today's growth is to provide banks, as well as Metal
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