For short-term players in the pair GBP / USD is better to be on sale
Last Friday a pair of Euro /dollar rose in the U.S. session to 1.4100. Pound /dollar reached 1.6550. The pair dollar /yen down to the American session, up to 95.00.
It was noted that next week the currency markets will continue to range trade. The trend will change only if the macroeconomic data for the United States will come out better than market expectations - this will lead to increased interest in risky assets and will provide additional pressure on the U.S. dollar. With such developments will have major advantage of New Zealand and Australian dollar and, to a lesser extent, the European currency.
Today in Asia remained the main driver market Japanese yen, which is significantly correlated with the dynamics of the stock market. The index of the Tokyo Stock Exchange Nikkei-225 fell 93.92 points (-0.95%). Index of the Hong Kong Stock Exchange Hang Seng fell 71.75 points (-0.39%). Singapore Straits Times Index appreciated by 3.51 points (0.15%).
Today in Asia pair dollar /yen rose to 95.58 marks. Rate euro /yen dropped to 133.60 marks. Exchange Euro /dollar fell on the Tokyo session to 1.3980. Pound /dollar traded between 1.6450-1.6500 levels.
Managing the People's Bank of China said that the policy of foreign exchange reserves of the country has always been fairly stable. And now it does not happen any abrupt changes. Recall that on Friday calling guide the People's Bank of China to establish a new independent currency exerted pressure on the dollar.
also support the dollar has fall in oil prices. Today, the price of WTI crude oil in electronic trading in New York fell by 0.40 dollars to 68.75 dollars per barrel.
Preliminary Industrial production value in Japan in May 2009 was 5.9% for the month, -29.5% for the year (the previous value of 5.9% per month, -30.7% for the year).
Retail sales in Japan in May 2009 was -2.8% per year (the previous value of -2.9% per year).
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. Consumer credit in billion pounds in the UK for May 2009 amounted to 0.30 (previous 0.30).
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: 1.3950-1.4070. Today, expect short-term correction of the market up. Therefore it is possible to short sell on impulse buying from the bottom of 1.3950, T /R = 1.4070, S /L = 1.3890. 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 95.00-96.00: 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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