At the last trading session, the American currency was feverish. A lot of review data was published in the forex of the day. Namely, the core CPI rose by 1. The statistics turned out to be much worse than expected.
This indicates a decline in consumer demand, which is targeted by the US regulator. However, unemployment still keeps decreasing, at the current moment it is estimated at 4. As for GDP, according to the preliminary estimates, experts expect growth by 1. In our opinion, the American regulator has room for maneuver so far.
Two of the three indicators are still showing growth, but this dynamics may change in case if review continues contracting. After optimum meeting it became clear that the US Federal Reserve intends to continue raising the rate for the third time this year, moreover, according to Janet Yellen, the Central Bank's balance may begin decreasing this year. In the long term, all these measures should affect positively the American currency, taking into account the forthcoming liquidity narrowing.
Expectedly, the American currency behaved extremely volatile. After the release of the data, the dollar fell sharply to the key currencies of the G10, though the positions were restored back during Janet Yellen's speech. Quotations for the key pairs returned to the opening levels. Today, the American continues adjusting.
The dollar index adds 0. Quotations returned to the level of points. Gold is also falling today, the mark is being tested, where the day moving average passes. Within the forex channel, the asset may drop to the level of Today, the Central Banks of Switzerland and the United Kingdom intercepted the Fed's baton, and on Friday, the Central Bank of Russia will report. The Swiss Central Bank left the interest rate unchanged. It remained at the level of Monetary policy also remains without significant changes.
The response to the data, naturally, was neutral. The Central Bank of Great Britain also left the rate unchanged, at 0. However, as a whole, we observe consolidation at a level. We'll be able to speak about the further growth after the breakdown of 1. The currency pair played the next target in the region of the level of 1.
The growth potential is limited to 1. The oil market is still under the impression of yesterday's statistics on crude oil and petroleum products in the US, which showed a sharp increase in gasoline stocks and a smaller than expected reduction in crude oil reserves.
Yesterday, the barrel of Brent was down 3. Today, the black gold market is consolidating. Technically, the quotes reached the lower boundary of the descending channel. From these levels, we are waiting for correction. The ruble fell by 0. Unexpectedly aggressive attitude of the Fed in combination with the fall in oil prices make us adjust the local ruble positions. In the medium term, the ruble trend will be determined by the dynamics of further narrowing of the review between ruble yields and funding currencies, including the dollar.
So far, given the conservative approach in terms of the CBR's monetary policy, and the Fed's prudence in optimum event of deterioration in macroeconomic data, the ruble's stability in the medium term will remain.
Corridor is still relevant. Operations, which are available on the website, might be considered as high-risk and their performance may be eminently risk-generating. For more information please visit the LEGAL DOCUMENTS page. You are granted limited, optimum, nontransferable rights to use the website information for personal noncommercial purposes with only regard to the services offered here. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines. Skip to main content.
Click and start trading. About forex English Indonesia English Indonesia English Indonesia English Indonesia. Partner Program terms and conditions Online Partner Offline Partner.
Deposit options Trading platform download Bonuses VIP. News Calendar Market reviews. Ivan Kapustyansky, Forex Optimum analyst. Profit withdrawal is easy and speedy. RISK WARNING Operations, which are available on the website, might be considered as high-risk and their performance may be eminently risk-generating.