The US Dollar strengthened its positions over the period of February 18-22 as it became known from the protocols of the last meeting of the USFR Open Markets Committee that a number of its members are concerned about the assets volume growth on the regulator’s balance. The probability of the early folding of the quantitative easing program increased and the Dollar regained strength. The USDX index, being its correlation to the basket of the six main competitors, gained 0.9% in the second half of the day on Friday, February 22 in the week’s aftermath.
|2013.02.12 00:40||Sell||1.00553||2013.02.12 04:03||1.00545||0.8 pip.|
|2013.02.12 23:25||Buy||1.00220||2013.02.13 01:22||1.00221||0.1 pip.|
|2013.02.13 23:36||Buy||1.00140||2013.02.14 00:39||1.00158||1.8 pip.|
|2013.02.11 23:11||Sell||1.34083||2013.02.11 23:35||1.34033||5 pip.|
|2013.02.11 23:11||Sell||1.34083||2013.02.12 00:22||1.34010||7.3 pip.|
|2013.02.13 00:08||Sell||1.34563||2013.02.13 01:00||1.34512||5.1 pip.|
|2013.02.13 00:08||Sell||1.34563||2013.02.13 01:08||1.34517||4.6 pip.|
|2013.02.14 00:00||Sell||1.34518||2013.02.14 00:35||1.34463||5.5 pip.|
|2013.02.14 00:00||Sell||1.34518||2013.02.14 01:09||1.34459||5.9 pip.|
The main event of the week of February 18-22, capable of impacting the US Dollar’s positions will be the publication of the protocols of the last USFR meeting. It will take place on Wednesday, February 20 at 19:00 GMT. The Federal Reserve has not made changes to the monetary credit policy and remained generally optimistic about the US economy’s prospects in the first half of 2013. Therefore, we are not anticipating any surprises and massive moves. It should also be noted that Monday, February 18, is a banking holiday in the US and market activity in the second half of the day can be very low. In general, the Dollar, in our opinion, will not hurry with growth, despite the Euro’s weakening. The demand for the risky assets on the global financial markets is preserved.
The US Dollar has somewhat strengthened its positions over the period of February 11-15 as the single European currency ended up under serious pressure. The Dollar index USDX, in the proportion of which the EURUSD pair makes up for 50.14%, strengthened its positions and closer to the reporting period’s end added 0.2%. Nonetheless, in regard to the two other main currencies, the Dollar was acting in a rather reserved way and was even somewhat weakening, which was facilitated by the preserved appetite for the risky assets.