Market Analysis

Yesterday, a pair of Euro /dollar to the U.S. session after the growth rate of 1.4275 to the euro /dollar fell to 1.4161 marks and to the closure of the day has stabilized in the mid-formed band .. Pound /dollar traded in the range 1.6380 - 1.6485, and finished the session near 1.6460 level. The pair dollar /yen has fallen to a level of 93.30.

The experts noted that the volume of trades in the forex market is relatively low, however, the dynamics of exchange rates to a large extent depends on the mood of the stock markets.

You can also note that some of the pressure on risky instruments has contributed to a statement by the U.S. Federal Reserve Chairman Mr Ben Bernanke, who said that unemployment in the United States will remain at a high level until 2011. This, in turn, will negatively affect the level of consumption, which is an important factor in economic recovery.

Yesterday Dow Jones index of the New York Stock Exchange rose 67.79 points (0.77%). Nasdaq index rose 6.91 points (0.36%). SP 500 index rose 3.45 points (0.36%).

Yesterday index Frankfurt stock exchange Xetra DAX rose 63.82 points (1.27%). The index of London Stock Exchange FTSE 100 rose 37.55 points (0.85%). The index of the Paris stock exchange CAC 40 rose 31.95 points (0.98%).

Yesterday the Bank of Canada Governing Council decided at its meeting to keep the basic interest rate in the country unchanged. Overnight rate target is still 0.25%. This solution is predicted by most economists and came as no surprise to market participants.

Today in Asia remained the main driver market Japanese yen, which is significantly correlated with the dynamics of the stock market. This index Nikkei 225 rising to 57.73punkta (0.60%). Index of the Hong Kong Stock Exchange on the Hang Seng rising 54.94 points (0.28%). Singapore Straits Times index rising to 25.70 points (1.05%).

Today in Asia pair dollar /yen traded in the range 93.40-93.70. Rate euro /yen fell to 132.50 marks. Rate euro /dollar adjusted up to 1.4170. Pound /dollar by the end of the session came to a level of 1.6400.

experts write that the activity on the forex market is low. Players expect any new factors, according to which could be traded.

The experts pointed out that correction of prices in commodity markets in the forex market there is reduction in carry trade positions and the purchase of Japanese yen.

Start the European session, has made adjustments to the dynamics of the foreign exchange market. Forex market is closely monitoring the dynamics of stock market and the emerging macroeconomic statistics.

Today, investors will be focused on the dynamics of the stock and commodity markets and goes macroeconomic statistics.

My tactical views:

EUR /USD: (5 /10 - the trend sideways): on analysts' forecasts now - to bid in the range: 1.4050-1.4220. Today, expect short-term correction of the market up. Therefore it is possible to short sell on impulse buying from the bottom of 1.4050, T /R = 1.4220, S /L = 1.3990. Positional traders are once again beginning to build up shorts with daytime highs. Actively move the foot, recording a profit.

GBP /USD (5 /10 - the trend sideways): for short-term players better be on sale. Actively move the foot, recording a profit.

USD /CHF (5 /10 - the trend sideways): today better be in buying. Actively move the foot, followed by the market, while protecting profits.

USD /JPY: (5 /10 trend sideways): now trading inside the corridor 93.30-95.00: better to be in a small purchase with a daily minimum. Actively move the foot, followed by the market, while protecting profits.

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