Market Analysis

Dynamics

U.S. dollar traded unevenly against other major currencies, but generally remained in the old bands. At the end of the week pair EUR /USD closed slightly above the 1.4700 mark, the pair GBP /USD fell to 1.5800, and the pair USD /CHF closed around 1.0300 marks.

Japanese yen continued to lose the position against other currencies. When the pair USD /JPY rose to a mark of 90.00, and the pair EUR /JPY closed higher 130.00.

consolidated Commodity currencies against the U.S. dollar. Thus, the pair AUD /USD fell to a mark 0.9000, the pair NZD /USD has managed to hold above 0.7300, and the pair USD /CAD has updated at least on a mark 1.0410.

Causes

On Friday, market activity was relatively low before the long weekend in the U.S., and investors preferred to consolidate positions in anticipation of entering this week's series of reports on corporate profits, as well as the publication of important macroeconomic data. A small support for the dollar have data on the trade balance, which declined for the first time in four months, despite the increase in oil prices. At the same time, the Canadian dollar have strengthened their positions after the data as the labor market significantly exceeded expectations.

What to expect?


now
activity in the market will be even more restrained, as in Japan, U.S. and Canadian markets are closed for the holiday, and therefore the position of the major currencies are unlikely to change substantially. However, later on this week's decline of the dollar may resume if the company will present positive reports on earnings. Also impact on the U.S. currency will have a macroeconomic data, including data on retail sales, consumer price index and industrial production. However, there is probably the opposite effect, because the expectations are not too positive.

Why worry?

consolidation increases the likelihood of further reduction of the U.S. dollar, but risks turning the long-term trend in favor of the U.S. currency is constantly growing.

Activity of investors throughout the day, given the lack of important data makrostatistiki, promises to be low
Finam will increase financial literacy in Krasnodar
Today analysts' forecasts for the pair EUR /USD - up for auction in Rendžov: 1.4675-1.4840
FGI State Treasury has sent the necessary documentation to return the collateral to participants of competition on sale of IPF
The next CIS summit will not bring any interesting ideas

Less politics - more the economy ...

The stock price of Gazprom may overtake the MICEX index, as it was in 2007
Growth in Russia market paused: confidence bulls undermined the dollar, which began to win back losses to world currencies
ODTS Ohta: Ministry of Culture can not correctly evaluate the project Ohta Center
Volume decreased income IDC Center in 2009-2010, from the activities tehprisoedineniyu be more than 1.7 billion rubles

News International Markets