On Tuesday, the course pair euro /dollar has updated its maximum value of more than a year, reaching 1.4875. However, the decline of U.S. stock indexes allow the dollar to soften his fall, which, in turn, once again renewed doubts about the pace of economic recovery. Thus, the American is becoming less attractive in the eyes of traders who are in a hurry to part with unreliable, in their view, currency. Moreover, in an atmosphere of continuing instability, investors prefer foreign currency assets commodity, which was confirmed by higher prices for oil and gold. The latter is seen by traders as a shield against inflation and market volatility. With rise in price of primary commodities experts focused on the currencies of exporting countries. In this context, the greatest number of opinion raises the question as to which country was the first to follow the example of Australia (recall that the Reserve Bank of Australia, the first of the G20 central banks increased the key interest rate from 3.00% to 3.25%). Among the major candidates appear on Canada, New Zealand and Norway. Current state of U.S. currency can be traced to how the central banks of various countries deal with their dollar reserves. Central banks of developing countries is already very reluctant to accumulate U.S. currency, preferring it to other assets of G10. This also explains the above mentioned growth in the euro despite the negative data for Europe from the German institute ZEW (-72,2 against the forecast -69.0).

So, open a mark of 1.4770, the European currency is gradually lowered to a minimum of 1.4760, and then abruptly moved up more than 100 points, recording a new annual maximum of 1.4875. However, during the correction of the dollar edged down to 1.4800 competitor, and ended trading Tuesday for a given pair in the area of 1.4850.

Swiss franc, in turn, caused the dollar to update the minimum value for the month, which now amounts to 1.0191. Significant achievement, given that a maximum of USD /CHF was observed at around 1.0277, and at the end of the day couple traded in the 1.0215.

his movement against the yen, the dollar began to increase, denoting a maximum of 90.19, however, with the departure of the Asian members of the American currency has changed direction. Downward movement, which numbered about 75 points, stopped only in the level of 89,40. After a brief respite in the U.S. trading session the yen once again tried to break through this barrier, but, like last time, was pushed back. Bidding ended at the level of 89.72

Pound, on the contrary, during the Asian session, trading down about 115 points to a minimum the day 1.5705. However, even with the advent of the European market participants the British currency has been steadily growing, recording towards the end of the day a maximum of 1.5938.

Forecast for Wednesday, October 14

environment will be quite interesting in terms of economic statistics of the leading countries. Thus, in the first place, investors will wait for the main messages of the interest rate the Bank of Japan. Most experts still believe that the rate will remain at the same level of 0,10%. Also in Japan will release the index of consumer confidence. In the UK, will be published data on the sector of employment, and in the U.S. come out news about changes in the volume of retail sales, oil reserves and reserves at commercial warehouses.

Thus, the principal resistance for the pair euro /dollar rate is 1.4900, breaking through that, a couple may go above 1.4950. In the event of another retracement of the euro could fall to 1.4750. Apparently, the pair dollar /franc continues its downward spiral, where his goal will be 1.0100. Otherwise, the dollar may strengthen to 1.0300. Japanese yen is likely to try to return to the level of 89,00, while for the American will be animportant foothold in 90,00. Pound probably try again to break the resistance 1.6000. Support for it will make the level of 1.5750.

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