The EUR / USD extended its gains

Monday, September 20, 2010

The euro extended gains against the U.S. dollar Monday, moving to a new day high, while worries about slowing U.S. growth dampened sentiment towards the dollar ahead of U.S. housing data.The EUR / USD was at 1.3120 in afternoon European trading, a new high every day, the couple subsequently consolidated 1.3087, gaining 0.29%.The pair had the chance to find support at 1.2975, the low short-term resistance on Friday at 1.3158.Earlier, Italy Istat statistics office said the Italian trade contracted more than expected in July to record a surplus of EUR 1.8 billion, narrowing a deficit of 3.06 billion euros in June.Economists had expected the trade deficit showed a deficit contract 1.37 euros in July.The report said exports rose 12.2% year on year to 33.06 billion euros in July, while imports rose 21% to 31,3 billion euros.The euro also rose against the pound, with EUR / GBP gaining 0.41% to 0.8340.

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Saturday, September 18, 2010

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Fore Market comes to life

After active session Tuesday to Wednesday, 15 September, and Thursday, Sept. 16, the Forex market has come calm - it is time for reflection. Of course, before there was a notable event - the Bank of Japan broke another scheme of carry-trade the dollar-yen, and now players will have to seek new opportunities, but are often riskier than the conservative "American and Japanese.

Incidentally, the first impulse to weaken the yen did not receive continuation. A pair dollar / yen the second trading day just above level 1985 yen / dollar. Apparently, the strengthening of the yen resumed after the players recover from the shock. The reason may be renewed expectations of hyperinflation of the dollar, and it is against the backdrop of deflation yen. To preserve capital players once again start to buy an extremely conservative currency.

At the same time, the most traded pair euro-dollar mark hangs on to $ 1.3 \ euro. Fresh statistics from the U.S. had not given clear u4kazany about the direction of motion, and on Thursday the players will wait for new data. Chances are, after all the shocks it would prefer to return to the good old U.S. life business and leave Europe.

Situation of FOREX

Wednesday, September 15, 2010

The Japanese yen fell sharply against the U.S. dollar in trading on Wednesday after the Japanese authorities to intervene in the course of trading on the currency markets for the first time in more than six years. Investors to be vigilant in case another intervention after both the Asian and European sessions, Japan pushed the pair dollar / yen higher than 85, while the U.S. currency rose more than 3% to top the North American session. Traders said that has not yet appeared little reason to assert with confidence that Japan continued to be active in the currency markets and in the course of the North American session. The Japanese authorities have indicated their willingness to continue the intervention and the American session, as reported by the representative of the Government of Japan. The Ministry of Finance of Japan said that the intervention will again on Thursday if necessary. After the incident on Tuesday, falling pair dollar / yen to 15-year low 82.87 first series of orders to sell the yen had been brought into effect in early trading in Asia. Then followed a wave of sales that pushed the dollar above 85 yen. By midday on the New York session, the pair dollar / yen was trading system EBS at 85.63 against 83.08 at the close on Tuesday, just below the maximum of 85.78 reached in early trading. A pair euro / dollar meanwhile was trading with only minor decreases at 1.3014 against 1.3020 at the close on Tuesday. A pair of euro / yen was trading with a sharp rise at 111.49 against 108.20, a pair of British pound / dollar was trading at 1.5650 against 1.5563, and the pair dollar / Swiss franc - at 1.0032 against 0.9950. The dollar index on ICE, which tracks the dynamics of the U.S. currency against the trade-weighted basket of other currencies, stood at 81.446 against 81.074. The representative of the Japanese government said that the actions of the Ministry of Finance is partly aimed at countering speculative buying of the yen. Ministry of Finance announced that the intervention in about 20 minutes after the market started the first sale. A wave of selling of the yen, which is estimated at 1 trillion yen, was directed against what the government called "poor economic conditions" facing the country. "Previously we had intervened in the currency market to curb excessive volatility in exchange rates", - said Minister of Finance Yoshihiko Noda a hastily convened press conference. Federal Reserve Bank of New York on Wednesday declined to comment on the intervention. In the U.S. Treasury declined to comment on the question of whether consulted with the Japanese government and whether it has any involvement in the intervention.

GC "Forex Club

As the head of the Intelligence Group of companies "Forex Club" Andrew Dirgin today at the Russian currency trading session was the hero of the single currency, which strengthened against the ruble in the wake of growing optimism about the economic situation in the euro area, and sales of U.S. debt. The dollar, however, slightly dropped in price in the ruble. The situation in Moscow reflects what is happening in the market FOREX. On the Russian market there are no internal drivers, and investors are watching the world news coverage. Meanwhile, desheveyuschaya oil presses on the Russian currency.
Dollar estimates tomorrow retreated quarter penny and traded at 30.73 rubles. While we do not see any significant reason for price rise "American" in the wake of the rising trend of oil prices. The single currency put in his piggy bank by 36 kopecks to 39.92 rubles, approaching the psychologically important level of 40 rubles. In the next session, hardly worth a serious appreciation of the euro, and the rollback to 39.80 seems real until the end of the week.
The dollar cheaper on world commodity markets, which puts pressure on the course of the Russian currency. The November futures for petroleum of mark WTI decreases by 0.8% to $ 76.14 per barrel. Investors fix profit after two days of rising prices for black gold. Nevertheless, the trend remains upward oil quotations, A. Dirgin indicates that due to the increase in positive sentiment on the global economy. On the eve of the U.S. published data on the growth of retail sales in August at 0.4% - slightly more than expected by the market. This is important news for the world's financial markets, indicating the stability of the restoration of the world's largest economy.
Euro is rapidly becoming more expensive relative to the dollar, that, firstly, due to the sellout of American debt securities, and secondly, the growing confidence that the country's Old World surely emerge from the crisis. Currently, the main currency pair is trading at a level 1.29, but we feel that with the growth of budget deficits in the peripheral countries of Europe, the euro will be in the next two months could fall to 1.20 "- summarizes the Expert Group of Companies" Forex Club ".