Rus News Journal

Forex: the euro can jump aside for a short while

On Wednesday, on May, 26th, the euro has tested again level 1,21 dollars/ euro, and on Thursday the rebound of quotations of uniform currency upwards has begun. At 9:00 Moscow time on May, 27th one euro cost 1,227 dollars, and, probably, on Thursday players will dare to continue fixing of short positions.

the only thing that is at present clear, it that volatilnost remains high while euro steam/ the dollar will not reach equilibrium level. Hardly the macroeconomic data of current week though as - that will affect succession of events in the markets. However in intermediate term prospect all of us - taki see probability of time restoration of an euro exchange rate to dollar to level 1,3. But from the point of view of annual prospect of steam yet has not reached the minima. Moreover, already in 2011. The differential of interest rates will change in favour of dollar - analysts Raiffeisen Research have noted.

Thus, in immediate prospects it is necessary to expect a rebound of uniform currency upwards, however it will not mean crisis of negative tendencies. Probably, in the summer players in the currency market will try to tighten euro quotations upwards that in the autumn, with beginning of a new financial season, to renew opening of short positions on currency. Besides the general instability in Europe, for euro will press also such factor, as low profitableness of investments in conservative tools.
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