Vector Securities - Analytics

    Vector Securities

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    The market lacks new ideas

    The market lacks new ideas
    The second day of the week didn’t give an answer to the question “what to do”. They came to one direction, then to another and ended the day practically at opening levels on most currency pairs. Contradictory ZEW had little influence on trades’ dynamics. Most components of the report grew, but lowered expectations were detected in Germany. Now everything is as before – marking time in the range. 
    Market’s activity is local – players try to get something out of any significant events. Today Asian session has started with moderate growth of Australian dollar after the data on inflation for the 1st quarter – they appeared to be slightly better than expected. During the remaining time of this day, players will probably focus on houses sales in US secondary market. It is difficult to suppose what can be expected of it. For last months US housing indicators haven’t practically shown any dynamics, either positive or negative and continue to fluctuate in ranges. The market will react to the fact. Apparently, players lack new ideas for trading. What concerns the Eurozone, today there are only several insignificant reports on Italy with the data for February. There is nothing to seize. British pound has a reason for activity – minutes of last session of the Bank of England will be published. Although nothing new is expected there, but under lack of other drivers it can somehow shake the market. In general, the situation remains uncertain and now we find it difficult to say in which direction the exit from current range will be.
     
    Trade tactics:
    Now we have no ideas either. Out of the market.
     
    Any opinions, advice, news, research, analyses, prices or any other information presented on this webpage is provided as general market commentary and does not constitute investment advice. "Vector Securities" shall not be liable for any loss, including loss of profit, which may arise directly or indirectly from the use of this information. 

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