Market Analysis

Dynamics

dollar again fell against the risk-sensitive currencies. This pair of EUR /USD remains in the range of about 1.4200, a pair GBP /USD recovered to 1.6500, and the pair USD /CHF traded around 1.0650.

Japanese yen also lost some positions. This pair USD /JPY back to the 94.00 mark, a pair of EUR /JPY recovered above the mark 133.00.

Commodity currency firmed slightly against the dollar. Thus, the pair AUD /USD has been able to overcome the short-term mark 0.8200, pair NZD /USD rose above 0.6600 marks, a couple of USD /CAD has updated a minimum at around 1.0950.

Causes

eve, in the absence of a large number of macroeconomic data is kept bidding took place, but by the end of the day stock indexes rose slightly, reflecting the continuing high propensity for investors to take risks. This allowed the euro, pound and other major currencies to strengthen slightly against the U.S. position. New comments Heads Ben Bernanke at the Fed during the second day of presentations to Congress on monetary policy did not have influence on the bidding process. At the same time, the Canadian dollar traded more actively, and was able to markedly stronger after the publication of a very favorable latest data on retail sales in Canada.

What to expect?

Today in the United States planned publication of data on applications for unemployment benefits, and sales in the secondary market. If rates remain relatively favorable, it will help preserve the mood of investors and their propensity to take risks at a high level, and hence the U.S. dollar will remain under downward pressure. In Britain today, will provide data on retail sales, which are projected to significantly increase that likely will have additional support for the British currency. In general, however, because small changes in the volume of trades in the market are likely to be limited.

What is fear?

As before, technical factors, along with unexpected events can trigger the restoration of the dollar, but its growth is likely to be short term.

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