Dynamics

U.S. Dollar traded raznonapravleno, but retains the tendency to decrease. This pair of EUR /USD traded slightly above the 1.4200 mark, a pair GBP /USD remains in the range below 1.6500, and the pair USD /CHF traded in the region of 1.0700 marks. Japanese Yen also remains in the ranges against other currencies. This pair USD /JPY consolidated approach to 95.00, a pair of EUR /JPY traded in a range of approximately 135.00 mark. Commodity currencies are nearly reached highs against the U.S. dollar. Thus, the pair AUD /USD remains in the area of 0.8200, a pair NZD /USD is close to the 0.6600 mark, and the pair USD /CAD traded slightly above the 1.0800 mark.

Causes

fluctuations of quotations on the stock market and the attitude of investors to the risk of continuing to set the direction of currencies in terms of low trading volume. This Friday the propensity to take risks remained high, as investors were optimistic the new data from the Eurozone and Germany in a very favorable indices PMI and Ifo. This supported the growth of the euro and other risky assets against the dollar. At the same time, the British pound was under pressure because of weak data on GDP. The data raised fears that the persistent weakness of the UK economy may force the Bank of England to increase the size of the measures under the policy of quantitative mitigate that negative impact on the national currency, at least in the short term. Nevertheless, despite the tendency to decrease, the dollar did not leave the current ranges.

What to expect?

Perhaps, the situation on the market next week will emerge nervously. The focus would expectancy at the end of the week the first assessment of the U.S. GDP in the II quarter. In anticipation of the publication, investors are likely to be cautious and closely monitor the behavior of stock markets in search of guidance regarding the relative risk. This change in the stock pads can lead to large fluctuations in the currency market, given the relatively low volume of trades. In addition to the GDP in the United Statesis expected to publish data on orders for durable goods, which can also provide multidirectional influence on the dollar.

In the euro area the main focus of attention will focus on preliminary data on consumer price inflation. It was expected that figure will show a new record decline over the same period the previous year, which could very negatively affect the positions of the euro, thereby triggering a record profit, which in turn may affect other risky currencies.

Today, investors will focus on data sales in the primary market of housing in the United States. Expected to increase this figure that is likely to have additional pressure on the dollar in the short term.

What is fear?

negative data and technical factors may contribute to the initiation of the restoration of the United States dollar.

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