Vector Securities - Analytics

    Vector Securities

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    British pound has become a growth leader

     

    British pound has become a growth leader

    At yesterday’s trades only British pound used its potential opportunities, continued to regain the results of parliamentary elections. Besides, investors hope for increase of forecasts on economic growth. Today pound has best prospects again. Speaking of significant events of this day, British statistics are of most interest – there are data on industrial production. It can provoke regular renewal of monthly maximums, though technical factors make us think about correction. Other currency pairs were quite inactive. European currency corrected lower after Friday on rumors about continued disputes about Greece in the Eurogroup. Still, as there was no any decision, so the pair didn’t show clear dynamics. Changes of other currency pairs were minimal. Despite technical strengthening of dollar in recent days, it doesn't have fundamental support yet. The probability of its renewed decrease in current phase of correction remains relevant issue.

     

    Trade tactics:
    Yesterday in the evening we renewed euro’s long position from 1.1150, stop at 1.1050. In case of a pair growth above 1.12, rearrange stop at the entry point. The initial aim is at 1.1260.

     

    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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