The American dollar in a volatile trades on Thursday was able to gain against European competitors.
In the main market of a pair of first half of the day the euro declined against the background of the negative dynamics of stock indices. Top North American auction trend changed, and rushed up the euro currency. The tendency of players to take risks to strengthen the positive makrostatistika of the United States. In particular, the number of secondary applications for unemployment benefits last week fell to 148 000 to 6 687 000. This has proved the largest decline since late 2001. At the same time over the past five months the number of people applying for the benefit of more than one week, was steadily rising. It is equally positive signals showed the index of leading indicators, which according to the report Conference Board, rose in May to 1.2%. Finally, our contribution to the overall macroeconomic picture on Thursday introduced the Federal Reserve Bank of Philadelphia, recorded a significant improvement in manufacturing activity in the region. Despite such positive statdannye deter-won position of the risky currencies was not possible, and overseas by the end of the session the dollar was again in the positive zone.
British currency during yesterday's European bid faced strong downward pressure against the backdrop of disappointing macroeconomic data in the United Kingdom. Thus, the volume of retail sales in May fell by 0.6% compared to the previous month and 1.6% in annual terms. More intensified sales data released by the pound on the public sector borrowing Misty Albion in May, which reached a record of the date of reference of such statistics (1993) - 20 billion pounds. As a result, at the time, quotes, British dropped below $ 1.62.
More aggressive selling seen yesterday on the franc. Central Bank of Switzerland said on Thursday that the planned further intervention in the event of improper growth of the national currency against the euro.
In the absence of publications of macroeconomic indicators on Friday, the main point of reference for the foreign exchange market has once again become notorious stock indices and the factor the propensity to take risks. Today we do not expect too volatile trades. In advance of the meeting Fedrezerva next week, major players have been slow to open up significant positions, so the current volume of trades in the Forex low. In general, according to our projections, the main steam market today will be traded in the range of 1,389-1,404 dollars per euro.
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