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Analytical review of the Forex market for 9 July, 2009

Jul 10th, 2009 | By admin | Category: News International Markets

On Thursday, the main competitors are U.S. dollar against the backdrop of growth in the desire of investors to risk have been able to strengthen its position. Tom helped to moderate the positive economicdata and growth stock indexes.

As predicted, the Bank of England kept the main interest rate at 0.5%, which, in turn, helped to significantly grow the British pound against the dollar. Furthermore, it became known that the Bank of England decided not to expand the program to mitigate the quantitative, which is also a positive impact on the pound. Thus, by the end of trading session on Thursday, a pair of pound /dollar traded at 1.6335 marks, a pair of Euro /dollar level - 1.4020.

Despite the significant growth shown by the competitors of the dollar on Thursday, many analysts fear that this is a temporary phenomenon, as the world economy is still far from recovery. So ended the summit of Group of Eight also showed uncertainty about the world leaders in early recovery, as well as on this day, significant risks.

Forecast for Friday, July 10

In the first half of the day on Friday will be issued a package of data on individual countries of Europe. The data demonstrate the promise of these divergent dynamics, which in the morning, expect a rather chaotic movements of European currencies. In addition to mainland Europe, market participants should pay attention to the news from Britain, which will be published indexes of purchasing and selling prices of producers. Balance of foreign trade in the U.S. will be the most anticipated news in America on Friday. In the event that the figure would be worse than the forecast value, very likely, is expected to reduce the desire of investors to risk and consequently the strengthening of such currencies as the Japanese yen and U.S. dollar. Estimated range of motion of a pair of Euro /dollar on Friday will be 1,3950-1,4100, a pair of pound /dollar - 1,6200-1,6400.

United States: fiscal and energy sector increased indexes plus
Russian-British TNK-BP has concentrated up to 100% Lisichansk refinery
NBU will decide to participate in the capitalization of Naftogaz in light of inflation risks
Expect to rise above 920-930 points on the MICEX index has not yet been accounted for
Today is the opening of the Russian market is expected to close yesterday's closing levels or slightly higher
The volume of trades in the market shares of the MICEX Stock Exchange on Thursday was 111.28 billion rubles
Good chances look better than the market today has shares of Russian oil and gas sector
Neutral closure and consolidation of the U.S. index of oil prices in the region of $ 60 will provide some support for the Russian market
Today the paper the Russian banking sector will not be able to stay in the zone of positive values

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