Pala mark 1.48

Written by admin on September 22nd, 2009

So, today the euro-dollar mark successfully broke through 1.48. Although yesterday the euro-dollar has been declining up to 1.4609. The Dow Jones closed down yesterday, falling to 0.42%, at around 9778, and the price of WTI crude oil decreased to 69.0 dollars per barrel. Today the Dow futures show an increase of 0.58%, while oil prices rose to U.S. $ 70.61 Euro-dollar showed a maximum at around 1.4820. Thus, yesterday's correction in all markets was a mere dummy, the collection stops before the final breakout mark 1.47. Now, technically there is no doubt that the zone of resistance in the December peak could not keep the euro on growth. No need to say that the analytical tapes can not yet put forward clear explanations antidollarovomu the ongoing rally in the market and pretend that nothing special happens. As a rule, closer to the end of a trend, a global explanation is, and the fact that it is not, suggests that the motion did not pass even half of its path. We believe that the short-term trend in the dollar's decline began in early September from 1.42 marks. Technically, the euro after a false break back in uplink and now moves to the top of its border.

Yesterday the U.S. Treasury is announcing today an auction of 4-week regular bill of U.S. $ 16 billion against this issue Issue is paid off 4-weeks-old at 35.9 billion dollars this way, for this type of securities would leave a net repayment of 19.9 billion . dollars (a little more than a week ago). However, recall that this week hosted Treasury notes at $ 112 billion, including today will also auction on 43 billion 2-year notes. A third auction today is the placement of 52-week (APR) Bill to $ 27 billion against the repayable release a year ago to $ 20 billion despite all the passing today of accommodation, daily candle euro-dollar has to the current situation shows the scale of 150 points against the dollar.

We continue to believe that the current movement is explained, on the one hand, the decrease in borrowing by the U.S. Treasury, on the other hand, the need for depreciation of the dollar to support the American manufacturer. We expect virtually non-stop growth of a pair down to a mark of 1.51, followed by possible sizeable correction and the delay in the mark of 1.50.

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