Posts from: August 2012

Forecast for the week of 27.08.2012 – 31.08.2012

No notable macroeconomic data releases are planned for the coming week, capable of substantially impacting the Dollar’s positions. Only Bernanke’s speech at the economic symposium in Kansas (August 31, 14:00 GMT) can end up in focus of the currency market’s participants. Besides that, the consumer confidence data by the Conference Board (August 28, 14:00 GMT) can be traditionally strongly received by the financial markets, and therefore indirectly impact the American currency.

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Report for the week of 20.08.2012 – 24.08.2012

The US Dollar traded in opposite directions during the period of August 20-24. In absence of important events and in anticipation of the publication of protocols of the last meeting of the Open Markets Committee of the US Federal Reserve (FOMC), it was gradually strengthening from Monday till Wednesday. The market participants, being under impression of the recently improved macroeconomic data, were expecting the Committee members to be more optimistic in evaluations of the nearest economic growth perspectives than a month earlier. Yet the minutes turned out to be painted in rather negative tones which gave reasons to suppose the QE3 is nearing. Therefore, the Dollar fell under pressure and the USDX Index dropped by 1.8% from the week’s maximums.

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