During a volatile trading Thursday on the background of falling stock indexes and, consequently, reduce the propensity of investors to the risk of a European currency has lost some of their positions against the U.S. dollar.
According to analysts, investors now fear to accept more risk instruments. Exchange rates show multidirectional vibrations, as the market returned to the uncertainty of the next meeting of the U.S. Federal Reserve, as well as the absence of any guidance that would help market participants to determine the direction.
Against the backdrop of favorable data, demonstrated the decline of the total number of applications for unemployment benefits in the United States, as well as growth in production, Philadelphia Fed index of European currencies against the U.S. dollar rose to 1.4001, but then, when the stock indices began to decline, the euro fell to 1.3870 marks.
British pound, showing in the first half of the day because of the negative dynamics of the publication of data showing a significant decline in the volume of retail sales and an increase in budget deficits in the UK, was able to partially restore its position on bidding in America. According to experts, investors used this fall for the formation of new long positions on the British currency. For example, during the New York session, the pound cannon from the minimum of 1.6187 and reached 1.6396.
Thursday was also marked by uneven sales of Swiss franc immediately after the Central Bank of Switzerland has decided to leave its key interest rate at 0.25% and again expressed his intention to prevent unwanted franc against the euro strengthening. Representatives of the central bank said that intervention in the foreign exchange market will continue, if necessary, but did not identify specific targets of intervention.
Forecast for Friday, June 19
Against the backdrop of a cautious attitude to risk and the general lack of market exchange rates are likely to continue to demonstrate the divergent dynamics of bidding.
Friday has not been extensive news background, and so investors will continue to focus on the behavior of stock indices.
Estimated range of trades on Thursday on a pair of Euro /dollar 1.3820 - 1.4000, the pair Pound /dollar 1.6250 - 1.6500.
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