Review of the events of the current week: July 1-5, 2013 We could see high volatility on the Forex market the whole week, which was mainly caused by the announcements of the major world’s central banks regarding further monetary policy. ECB and the Bank of England indicated a possibility of the continuation of quantitative easing programs, and FED might cancel Q3 program in September. EURUSD was under the strong pressure since the beginning of the week. First decrease of the pair was caused by the political situation in Portugal, where leading party might split after the resignation of the minister of finance. Second decrease was caused by the speech of the ECB President, Mr. Mario Draghi, when he said that the bank will support monetary policy further on and that possibility of the interest rate decrease is not excluded. Information about unemployment situation published today became the last drop for Euro, and pair dropped to 1,2805. Situation for British pound was even worse. It improved its positions in the beginning of the week, being supported by the economic data, however after the publication of the results of the Bank of England’s meeting, currency’s quotations plummeted down. Mark Carney let everybody know that despite of the positive changes in the economy Quantitative Easing program shouldn’t be stopped. As a result pair finishes this week around 1,4900. Info from the US labor market appeared to be much better than a forecast by 30K (195K of new jobs instead of the forecasted 165K). This data affected Japanese currency as well: it raised from 99,23 to 101,13 during the week and finishes it around 100,80. AUD followed the same trend. Currency couldn’t secure its positions even with the support of PMI that grew from 43,80 to 49,60 in June. American data about new jobs affected pair’s quotations that dropped to 0,9036. Make profit in Forex with MAYZUS.COM - MAYZUS This information is an analytical review of Capital and FX markets. The material presented, and the information contained, is investment research and should in no way be considered as the provision of investment advice for the purposes of Investment Firms Law 144(I)/2007 of the Republic of Cyprus, or any other form of personal advice, which relates to certain types of transactions, with certain types of financial instruments.
Posted on: Fri, 05 Jul 2013 20:28:34 +0000
Trending Topics
© 2015