Vector Securities - Analytics

    Vector Securities

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    The exchange market is bored

    The exchange market is bored
    This week the market is inactive, it splashed out all the energy on the first day of the week. Previous day was boring too. All more or less notable events provoked only local splashes. The text of minutes of the Bank of England was restrained and didn’t meet players’ expectations for support of Carney’s statements for increase, though before their publication pound showed slight spurt after released interview of MPC member Miles. Still, it came to nothing. The data on houses sales in US secondary market were better than predicted. Dollar made an attempt to recapture the initiative, but bulls hadn’t enough strength again. The closure of the day was relatively successful for New Zealand dollar – the regulator decreased by o.25 basis points and this decrease was already in price, as we have warned.

    Today global events aren’t expected either. Reports on retail sales in the U.K. and Canada are of more interest. Under lack of general tendency in the market, the reaction of corresponding currencies will be short-term and depend on actual data.


    Trade tactics:

    The market has no any dynamics and it is difficult to say in which direction the exit from this consolidation will be. Our technical analysis doesn’t give clear signals. As we supposed in our yesterday’s overview, we opened long position from 1.0900, stop is already rearranged at the entry point. Now we see nearest aims in the range of 1.0980 – 1.1000. We are waiting for development of events.


    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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