Today, expect short-term market correction of EUR / USD up
Yesterday, a pair of Euro /dollar rose in the U.S. session, up to 1.3990 after testing the bottom in Europe at the level of 1.3900. Pound /dollar reached 1.6220. The pair dollar /yen has risen by 120 points to 92.93. Rate euro /yen fully adjusted drop seen at the Tokyo session, and reached 129.88, almost 190 points higher than the daily minimum.
The experts noted that the rapid growth of quotations on the stock markets has boosted the demand for risky instruments. Support for the forex market have been cross-rates associated with the Japanese yen, and commodity currencies.
Yesterday Dow Jones index of the New York Stock Exchange rose 176.09 points (2.16%). Nasdaq index rose 31.92 points (1.82%). SP 500 index rose 19.79 points (2.25%).
Yesterday index Frankfurt stock exchange Xetra DAX rose 146.03 points (3.19%). The index of London Stock Exchange FTSE 100 rose 74.96 points (1.82%). The index of the Paris stock exchange CAC 40 rose 68.98 points (2.31%).
Federal budget in the United States billions of dollars for June 2009 was -94.3 (-78.0 prognosis was, the previous value -189.7).
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 rose 211.48 points (2.34%). Index of the Hong Kong Hang Seng Stock Exchange rose 565.87 points (3.28%). Singapore Straits Times index rising to 40.91 points (1.80%).
Today in Asia pair dollar /yen rose to 93.30. Exchange Euro /yen rose to 130.65 marks. Exchange Euro /dollar rose to 1.4010 marks. Pound /dollar traded near 1.6300 level.
The experts noted that the rise in stock indexes and oil prices contributed to buying the more risky instruments, in particular against the Japanese yen.
Today, the price of oil in electronic trading in New York rose 0.62 dollars to 60.32 dollars per barrel.
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.
Market participants expect this week to continue publication of financial reports of major U.S. companies for the second quarter. It is believed that these data may provide new information on the development of the U.S. economy in the second quarter. Forward to the publication of reports of such companies as Johnson Johnson, JPMorgan Chase, Google, General Electric.
My tactical views:
EUR /USD: (5 /10 - the trend sideways): on analysts' forecasts now - to bid in the range: 1.3880-1.4100. Today, expect short-term correction of the market up. Therefore it is possible to short sell on impulse buying from the bottom of 1.3880, T /R = 1.4100, S /L = 1.3840. 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 92.50-93.50: 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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