As expected, on Friday we did not see anything kramolnogo, given the lack of economic developments and the end of the working week. Nevertheless, the dollar still had to retreat even further back, as some investors still prefer to prepare for a new week in advance. Given the recent talk of changing the monetary policy Fedrezervom scheduled FOMC meeting on Wednesday could be quite interesting. Of course, nobody expects any changes in the cost of credit, and quantitative dimensions of mitigation are likely to remain the same. However, we see interesting movements in the currency markets, if there are changes in the accompanying statement, especially in the aspect of economic prospects.
In addition, the current week offers us a report on the housing market, data on orders for durable goods and the final estimates of GDP for the 1 st quarter. In addition, one should not discount the possibility of the emergence of unexpected messages, for example, the new lower ratings or a change in the tax system of the United States. In any case, we have high hopes for this five days, especially given the fact that the currency has zasidelis range.
EUR
euro has not been able to close above the psychological mark of 1.40, which is the fault of insufficient evidence in the economic field during the entire euro zone last week, as well as general market uncertainty regarding the economic outlook. As reported Friday in The Federal Office of Statistics, in May, the German producer prices remained virtually unchanged since the low cost of goods of daily demand blocked the rise of energy. In annual terms the same index PPI showed a fall on the 3.6% that was the strongest fall since April 1987-year. Thus, we continue to receive all the same evidence of deflation, which are so dangerous to the weak economy. In addition, we learned that in the first quarter unemployment rate in Italy rose to the highest level since 2005, saying that the signs of stabilization, we have seen very recently, could be false.
This week holds a lot of economic reports, including the German IFO and PMI data for the various branches of the euro. Also pay attention to Trichet's speech, scheduled for today - maybe we will hear new commentary on the economic prospects of the region.
GBP
Throughout last week, the pound kept pretty well and completed it in the area of $ 1.65, not far from the 7-month maximum. And all this despite the fact that we have received quite conflicting economic data. On Friday we learned that British banks had reduced the volume of foreign lending to the 2 nd quarter in succession, though not so much as at the end of 2008. This is not very good news, considering how much effort and money put the British government to resume lending. A report released this morning showed that the required housing prices in Britain fell for the first time in 5 months in June. According to Rightmove, prices fell by 0.4% m /m and 5.5% y /y. This suggests that demand in the housing market continues to fall, forcing all sellers to lower prices for larger houses.
This week does not carry anything feerichnogo, so that the dynamics will be determined by the pound is likely to dollar movements. However, pay attention to the political situation within the UK - regular reports on the resignation of officials in connection with unlawful waste of public money, can put pressure on the national currency, and further undermine the reputation of Brown.
JPY
Japanese Yen continue to reap the benefits of traction control to mitigate risk. Meanwhile, economic data also provide little support, while fully supporting the approval of the Government of the gradual stabilization of the economy. Japanese tertiary activity index, which reflects the cost of the services sector grew by 2.2% in April against previous month, following a record decline to 2.8% in March (revised from a decline by 4,0%). The April increase was the first monthly rise in over 3 months. In addition, in the second quarter was marked recovery of sentiment of large companies to -22.4 to -51.3 in the 1 quarter. Of the key reports this week is worth noting the data on consumer prices, which remain a major indicator of economic status in relation to the constant threat of deflation.
We are looking forward to the new focus
USD
As expected, on Friday we did not see anything kramolnogo, given the lack of economic developments and the end of the working week. Nevertheless, the dollar still had to retreat even further back, as some investors still prefer to prepare for a new week in advance. Given the recent talk of changing the monetary policy Fedrezervom scheduled FOMC meeting on Wednesday could be quite interesting. Of course, nobody expects any changes in the cost of credit, and quantitative dimensions of mitigation are likely to remain the same. However, we see interesting movements in the currency markets, if there are changes in the accompanying statement, especially in the aspect of economic prospects.
In addition, the current week offers us a report on the housing market, data on orders for durable goods and the final estimates of GDP for the 1 st quarter. In addition, one should not discount the possibility of the emergence of unexpected messages, for example, the new lower ratings or a change in the tax system of the United States. In any case, we have high hopes for this five days, especially given the fact that the currency has zasidelis range.
EUR
euro has not been able to close above the psychological mark of 1.40, which is the fault of insufficient evidence in the economic field during the entire euro zone last week, as well as general market uncertainty regarding the economic outlook. As reported Friday in The Federal Office of Statistics, in May, the German producer prices remained virtually unchanged since the low cost of goods of daily demand blocked the rise of energy. In annual terms the same index PPI showed a fall on the 3.6% that was the strongest fall since April 1987-year. Thus, we continue to receive all the same evidence of deflation, which are so dangerous to the weak economy. In addition, we learned that in the first quarter unemployment rate in Italy rose to the highest level since 2005, saying that the signs of stabilization, we have seen very recently, could be false.
This week holds a lot of economic reports, including the German IFO and PMI data for the various branches of the euro. Also pay attention to Trichet's speech, scheduled for today - maybe we will hear new commentary on the economic prospects of the region.
GBP
Throughout last week, the pound kept pretty well and completed it in the area of $ 1.65, not far from the 7-month maximum. And all this despite the fact that we have received quite conflicting economic data. On Friday we learned that British banks had reduced the volume of foreign lending to the 2 nd quarter in succession, though not so much as at the end of 2008. This is not very good news, considering how much effort and money put the British government to resume lending. A report released this morning showed that the required housing prices in Britain fell for the first time in 5 months in June. According to Rightmove, prices fell by 0.4% m /m and 5.5% y /y. This suggests that demand in the housing market continues to fall, forcing all sellers to lower prices for larger houses.
This week does not carry anything feerichnogo, so that the dynamics will be determined by the pound is likely to dollar movements. However, pay attention to the political situation within the UK - regular reports on the resignation of officials in connection with unlawful waste of public money, can put pressure on the national currency, and further undermine the reputation of Brown.
JPY
Japanese Yen continue to reap the benefits of traction control to mitigate risk. Meanwhile, economic data also provide little support, while fully supporting the approval of the Government of the gradual stabilization of the economy. Japanese tertiary activity index, which reflects the cost of the services sector grew by 2.2% in April against previous month, following a record decline to 2.8% in March (revised from a decline by 4,0%). The April increase was the first monthly rise in over 3 months. In addition, in the second quarter was marked recovery of sentiment of large companies to -22.4 to -51.3 in the 1 quarter. Of the key reports this week is worth noting the data on consumer prices, which remain a major indicator of economic status in relation to the constant threat of deflation.
Leaders of the European Union in order to prevent future crises in the past agreed to the summit of a regional system of monitoring the financial markets
Leaders of growth falling to 19.06.2009
Overview of the oil market for 19.06.09
The technical analysis of currency pairs
Today, expect short-term market correction of EUR /USD up
Review of the FOREX market for 19.06.09
The price of oil collapsed below $ 70: Brent futures traded on the mark just above $ 69
Asian markets on Monday morning went to the positive territory
Technical analysis of stock on the MSCI Brazil index