GC "Forex Club

Wednesday, September 15, 2010

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 ".