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Sunday, April 4, 2010

Will there be a new direction on the market?

Last week major currencies continued to circulate its consolidation range. Exception was the pair dollar / yen, which could be increased by over 500 points, reaching a maximum of three.
Economic situation in the euro brought successive negative data. This time it was unemployment, which at the end of last week was published, marking the biggest rise for the past two years. Specific data razminaha with the expectations of market participants, as demonstrated by the 8.2 percent unemployment in the expected level of 8.1% and 8.1% previously.
These data, combined with the continuing decline in inflation, supported the allegations that the meeting in this week's European Central Bank will reduce interest in the current level of 2%.
In addition this week the ECB decision on interest rates in the countries and will have the Canadian, English and Australian central banks. These meetings and the publication of inflation indicators for the euro and the U.S. emerge turbulent week for the currency markets. Week that it is possible to remove most currency pairs of narrow consolidation in which they are located and give direction to the movement in the future.

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