Market Analysis

Last Friday, the euro /dollar at the U.S. session, fell to the level of 1.4280. Rate pound /dollar fell to 1.6260 level. Pair dollar /yen has fallen to a mark of 93.40. Cross the euro /yen hit bottom at around 133.70.

The experts noted that in the U.S. session on the forex market experienced the closure of long positions in riskier instruments. This helped strengthen the dollar and the yen. Moreover, in the medium term support for the dollar continued to have positive economic data in the United States. Pressure on the riskier instruments have plans to restrict China's excessive investment in some sectors of the economy.

Yesterday, the Dow Jones New York Stock Exchange fell 54.87 points (-0.57%). The Nasdaq fell 0.90 points (-0.04%). SP 500 index dropped to 3.59 points (-0.35%).

Also yesterday, the index of the Frankfurt Stock Exchange Xetra DAX rose 72.74 points (1.33%). Index of the London Stock Exchange FTSE 100 rose 49.65 points (1.02%).

Experts note that the volume of trading in the forex market are low. The attention of investors is aimed at the publication of important economic data, to be released this week.

At the weekend parliamentary elections were held in Japan. Won by the opposition Democratic Party of Japan. Experts say that the dollar /yen likely to continue to variations in a limited price range.

The final value of Michigan sentiment index in the U.S. for August 2009 amounted to 65.7 (forecast 64.5, the previous value of 63.2).

Personal income in the U.S. for July 2009 was 0.0% (forecast was 0.3%, the previous value of -1.1%).

Personal spending in the U.S. for July 2009 was 0.2% (forecast was 0.2%, the previous value of 0.6%).

Today in Asia remained the main driver of the market the Japanese yen, which is significantly correlated with the dynamics of the stock market. This index Nikkei 225 has decreased by 1.32 points (-0.01%). Index of the Hong Kong Stock Exchange, Hang Seng falling to 363.91 points (-1.81%). Singapore Straits Times Index fell to 30.92 points (-1.17%).

Today in Asia pair dollar /yen moved down to a mark of 92.50. The euro /yen collapsed to a mark 133.80 to 132.50. The euro /dollar was trading at the Tokyo session near the 1.4280 mark. Rate pound /dollar stabilized near 1.6240. Australian dollar consolidated near the 0.8400 level.

start of the European session, failed to make the adjustment in the dynamics of the currency market. Forex market closely followed the dynamics of the stock market, and for overlooking the macroeconomic statistics.

Today in the UK the day off. Consequently, the financial market in the country will be closed.

Today, investor attention will be directed to the dynamics of stock and commodity markets and published macro-economic statistics.

My tactical views:

EUR /USD: (5 /10 - a trend sideways): Today analysts' forecasts - up for auction in Rendžov: 1.4200-1.4350. Today, expect short-term market correction up. Therefore we can trade on short-term impulse buying below the 1.4200, T /R = 1.43500, S /L = 1.4190. Positional traders are once again beginning to build up shorts with daytime highs. Actively move the foot, fixing the profit.

GBP /USD (5 /10 - a trend sideways): For short-term players is better to be out of the market. Actively move the foot, fixing the profit.

USD /CHF (5 /10 - a trend sideways): Today is better to be buying. Actively move the foot behind the market, protecting profits.

USD /JPY: (5 /10 trend sideways): Today, trading inside the corridor 92.30-93.50: better to be a small purchase with a full-time lows. Actively move the foot behind the market, protecting profits.

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