The review of the market of currencies for a week, 22 - on February, 26th
Monday was poor on an exit of important economic statistics and this day it is possible to name unique important news appeared in a press the message that the eurozone countries are ready to render material aid of Greece at a rate of 25 billion euro. However soon the given news has been denied by one of representatives of the Ministry of Finance of Germany.
On Tuesday prior to the beginning of active trade in Europe purchases of euro against the Swiss franc which as speak in the market, have been called by currency intervention from Central Bank of Switzerland, have provoked growth of uniform currency and against US dollar. So, after a sharp throw of pair euro/ franc to a mark 1. 4681 steams of euro/ dollar has managed to reach a maximum 1. 3691.
however then the situation in the market has again cardinally exchanged. To the beginning of active trade in States the euro exchange rate/ dollar has fallen to a mark 1. 3550, and then also has at all reached level 1. 3500. Pressure upon pair was rendered by the data across Germany (indexes of German research institute Ifo), bearing to decrease in a level of business in the country.
Thus, from all currencies in the most advantageous position there was only Japanese yen which to the termination of day has managed to become stronger to a mark 89. 90 yens for US dollar.
On Wednesday the uniform currency has received - taki support from the fundamental data. Then, after some rough auctions and growth to an intraday maximum 1. 3625, against performance before the Congress of chairman FRS the USA Ben Bernanke who has specified to the American legislators about necessity of preservation of the lowest interest rates, the euro pair/ dollar was rolled away back to a mark 1. 3516.
the termination of week has a little levelled a state of affairs between dollar and some European currencies. The published report that the USA in the end of the last year showed the highest rates of increase more than for six years, have given to competitors of dollar additional stimulus to growth: the uniform European currency has returned to area of opening of week 1. 3630, and the Swiss has managed to update a maximum of week in relation to dollar, having risen in price to 1. 0693.
During the same time the pound which all the week long was in narrow range, has not sustained pressure of dollar and has considerably fallen in price, as the data published across Great Britain has shown the sharpest more than for 40 years annual decrease in capital investment.
it is necessary to notice that in the conditions of the lowered propensity of participants of the market to risk the Japanese currency continued to use the greatest demand among investors.
the Forecast for the next week, 1 - on March, 5th
the American currency, despite of everything, continues the ascension, and forthcoming trading week the state of affairs most likely will not change. In - the first the situation concerning Greece and other European countries faced high debts still is not clear. In - the second, prolonged falling of uniform European currency, seemingly, at all does not disturb the European central bank that together with the adverse data on an eurozone gives to competitors of euro good stimulus to growth continuation.
next week the whole three central banks will publish decisions concerning interest rates: the first will publish the decision of Bank of Canada on March, 2nd, and then on Thursday it will join Bank of England and ETSB. According to preliminary data, all three banks will leave the rate at former level 0,25, 0,50 % and 1,00 % accordingly. In case of acknowledgement of forecasts, competitors of dollar will feel still bolshee pressure, thus it is difficult to tell, a leah short-term it will be or will serve as the catalyst of the further falling.
to Finish the first week of month, as well as always, there will be data by quantity of new workplaces in not agricultural sector of economy of the USA which, according to forecasts, will decrease on 40 thousand. By the current moment the euro pair/ dollar is aimed at level 1. 35 after which overcoming can direct to a mark 1. 33. The British pound also hardly can become stronger in relation to dollar, the pair will continue storm of level 1. 52 and at successful probitii can fall to 1. 50. As to yen and the Swiss franc it is possible to tell that steam dollar/ the yen hardly will fall outside the limits a range 88 - 91, and the dollar/ franc remains between 1. 07 and 1. 09.