02, December 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

The participants of currency market bought European and British currency and sold Japanese at Thanksgiving Day. The news flow from the Euro zone was mixed. Negative data on the labor market in Germany, replaced by positive reports on the index of confidence at the industrial sector and the service sector at the Euro zone.

In general lateral trend was observed within a small range. There is a demand for the British currency versus the dollar lasting for the three days. Grew quotes after the comments of BOE Governor - Mark Carney on the eve, who announced the termination of the program of support to mortgage lending in January 2014. The stimulus program will focus exclusively on small and medium-sized businesses lending at the New Year. Against this background quotes GBP/USD reached 1.6356.

The Japanese currency is still among the outsiders. Retailers’ volume data came out slightly better than expected, at around 2.3 % y/y. Against this positive background, moderately yen managed to strengthen to the level of 101.93, but exporters immediately entered the market and began to buy up reduction. As a result, the pair was able to reach a fresh weekly high at around 102.37.