Yesterday the week started with multidirectional trade. Dollar renewed maximums, reached on Friday after publication of good report on labor in the U.S.A., by inertia, still, by the end of trade day it lost almost all the advantages. As before, the common currency is burning with fever. Yesterday the data on trade and payment balances of Germany were quite good, but it didn’t help much. The lack of stable progress on Greece makes players nervous. The negotiations are tough, with mutual accusations, what keeps the topic of exit of Greece from the Eurozone on the front pages of all news. What concerns notable events of today’s news background, there is only industrial production of France, Italy and the U.K. Forecasts are moderately positive, there are no specific grounds for dollar’s growth. Continuation of consolidation is probable, risks of movement to any direction are balanced. The data on GDP of the Eurozone can become a push for market’s movement.
There is uncertainty in the market. Technical indicators don’t give any significant signals. Our euro’s purchase from 1.1320 was closed on stop yesterday. However, we renewed long position at lower levels from 1.1300, stop is already at the entry point. There are some risks of testing of previous minimums in the range 1.1100, but it needs quite strong driver. Any threat reduction by Greece will lead to euro’s growth.
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