Posts from: October 2012

Forecast for the week of 22.10.2012-26.10.2012

The main event of the week of October 22-26, capable of significantly impacting the US Dollar’s prospects, will be the publication of the protocols of the last meeting of the US Federal Reserve Open Markets Committee (Wednesday, October 24, 18:15 GMT). The recent macroeconomic data from the US and, in particular, from the labor market, is of a positive nature. In this light, it will be interesting to assess the FOMC members’ comments on these tendencies. A considerable attention on the stock markets should also be paid to durable consumption goods orders data (Friday, October 25, 12:30 GMT), since the indices’ dynamics can impact the Dollar’s positions.

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Report for the week of 15.10.2012-20.10.2012

The US Dollar fell under reasonable pressure over the period of October 15-19 as Spain announced its willingness to turn to the ECB for help within the Outright Monetary Transactions program. This became a direct signal for the market participants about the efficiency of the recently taken measures for combating the debt crisis. The macroeconomic data published last week did not bring major changes to the forecasts on the US economy. With this background, the USDX index lost 0.9% for the moment. However, closer to the week’s closure, it lowered by 0.4%, having recovered part of its positions on anticipations of the EU leaders’ summit outcome.

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