The main event of the week for the single currency traders will be the outcome of the ECB Governing Council’s next meeting and the press-conference of its Head Mario Draghi. No radical decisions are expected from the European regulator, since the situation in the region’s economy is gradually improving. Based on the situation, it will be most logical for him to observe everything from the side. The Euro with this background has all chances to continue the upward movement toward the 1.38 mark.
The past week turned out rich in publications of important economic data yet despite this many traders were in anticipation of the Federal Reserve’s meeting outcome. As it became known, the USFR will continue its monthly purchases of the mortgage securities for the amount of 40 billion Dollars as well as the treasury bonds for the amount of 45 billion Dollars. The USFR has also announced it will continue purchasing the securities until a major improvement on the labor market is noted. Besides that, the USFR will preserve the extremely low interest rates until the inflation falls below 2.5%. At the same time, the USFR pointed out that the economy will keep growing at a reasonable pace at the implementation of the quantitative easing policy measures and the unemployment level will gradually decrease at the easing policy.
|2013.01.22 23:13||Buy||0.99220||2013.01.23 02:14||0.99220||0 pip.|
|2013.01.22 23:05||Buy||0.99231||2013.01.23 02:32||0.99232||0.1 pip.|
|2013.01.24 00:48||Sell||0.98564||2013.01.18 02:10||0.98563||0.1 pip.|
|2013.01.23 23:32||Sell||0.99933||2013.01.24 04:50||0.99931||0.2 pip.|
|2013.01.22 00:25||Sell||1.33181||2013.01.22 01:42||1.33146||3.5 pip.|
|2013.01.22 23:38||Sell||1.33269||2013.01.22 23:48||1.33216||5.3 pip.|
|2013.01.22 23:38||Sell||1.33269||2013.01.23 01:00||1.33214||5.5 pip.|
|2013.01.23 00:35||Sell||1.33271||2013.01.23 01:00||1.33220||5.1 pip.|
|2013.01.23 00:35||Sell||1.33271||2013.01.23 01:45||1.33181||9 pip.|
The coming week will become very important for the US Dollar and will be rich in the macroeconomic releases and events. The USFR Federal Open Markets Committee will hold its next two-day meeting the outcome of which will be published on Wednesday at 19:15 GMT. On the same day at 13:15 GMT a media release on the new jobs in the non-industrial sectors of the US will be made by ADP Inc., and on Friday, the Labor Data Bureau will publish the equivalent data as well as the unemployment level figures.