If the medium is the current week ago the dollar was self-evident, no one hurt us call this last week the yen, as the charts with this particular currency today can boast of a strong movement towards the strengthening of this.
But back to the beginning of the day when European currencies continued to fall under its own momentum against the dollar, not feeling any support from the PMI index for the euro area and Germany, or even from the figures the ECB"s monthly report for January. Fortune turned the European session for those skilled traders who have put against the pound - against the background of the publication of data to reduce the amount of the monetary aggregate M4 and growth of the state budget deficit (the amount of borrowed funds of the state) to 15.7 billion pounds of "British" literally rolled up to the deplorable level of 1.6123, after Why did not rise above 1.6240. Simultaneously, the euro dropped to 1.4028, and the franc weakened to 1.0494.
On the other hand, the frustration can understand wanting to find the chart USD /CAD reaction to the news about the beginning of the process of buying Canadian dollars to the Central Bank - the market largely ignored this fact.
But back to strategic partners. Already during the American trading session, Barack Hussein Obama in his speech touched on future plans to increase regulation of the monetary sphere in the United States, in particular, these measures are intended to limit the activity of commercial banking institutions in the conduct of operations with more risky assets. The purpose of tightening control over the monetary sphere is to reduce the volume of risky trading operations and to prevent recurrence of financial crisis. Of course, as a result of such statements Obama investors began immediately withdraw the remaining funds from the hitherto risky instruments, investing in assets denominated mainly in yet reliable, but lower-if26ncome Japanese currency. It is this reaction and led to a rapid strengthening of the yen: two hours had the panic-stricken investors to have to move from the area JPY 91.70 to 90.10 daily maximum. We leave this Thursday in memory as the day of the yen.
Forecast for Friday, January 22, 2010
On Friday, there may be some recovery of the euro and pound against the dollar, as well as data on changes in the volume of industrial orders in the EU and to change the volume of retail sales in the UK expected to be positive.
So, after testing a pair of likely euro /dollar 1.4000 support by the end of the trading week may strengthen the pair to 1.4300. For further pounds can fall back to 1.6200, followed by a return to 1.6400. The dollar /franc will test the resistance of 1.0500 with the support of 1.0350 and the yen will continue the path to the end of the week in the range 90.70 - 91.70.
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