Dynamics

U.S. dollar recovered some of the lost positions. When the pair EUR /USD fell to a mark 1.4280, the pair GBP /USD fell to 1.6230, and the pair USD /CHF rose to a mark 1.0600.

Japanese yen remained steady against other currencies. When the pair USD /JPY was trading below the 94.00, and the pair EUR /JPY fell below 134.00.

Commodity currencies fell against the U.S. dollar. Thus, the pair AUD /USD was around 0.8400 marks, a pair NZD /USD fell to 0.6830, and the pair USD /CAD recovered to 1.0950.

Causes

On Friday, U.S. stock indexes began to decline, prompting risky currencies to decline against the U.S. dollar. Presented in this day macroeconomic data from the U.S. and the eurozone virtually no impact on the course of bidding, which is still defined by the attitude of investors towards risk.

What to expect?

This morning the market situation has not changed much, except for the yen, which rose against other currencies, responding to the results of parliamentary elections in Japan. However, during the week expecting a lot of important events that could affect investor sentiment and the position of major currencies, including the ECB meeting and the publication of a report on the labor market in the United States.

In particular, today the U.S. will be published index of business activity in the manufacturing industry according to the Chicago Association of Managers, and in the euro zone will be provided with a preliminary estimate of consumer price inflation in August. Expected slowdown in the fall of the consumer price index in the euro area, whereas in the U.S. is expected to increase the index of business activity. These data could support the euro and other risky currencies against the dollar if the forecasts are correct.

At the same time, in the event of further decline in stock indexes dollar will continue to receive support, and data can be ignored by market participants.

Why worry?

currently trades on major currencies are without a definite direction, and the intraday volatility remains high, and connected with what the main risks in trade transactions.

Recommendations for market shares: LUKoil, Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank
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