13, January 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

There was a lateral movement on the main currencies at the end of the week. The euro/dollar last week main event was a Mario Draghi's press conference where he said that the bank's management was still preoccupied with the reduction in inflation and in the event of a negative trend was ready to use all the available tools. It was also announced a low economic growth in the eurozone for the next two years which is certainly negative for the European currency. Amid this news there was euro/dollar selling, but after setting fresh high marks the quotes turned up and closed the trading day about 36-rd figure.

The GBP/USD spent the day consolidating near the strongest level 1.6464. BOE passed quietly and peacefully without provoking a strong reaction from the market. The quotes reduction of cross-rate euro/pound supported the demand for the British currency and throughout the day there was moderate quotation growth.

In the absence of important statistics from Japan and the U.S. - the dollar/yen trading range was less than 50 p.p. Investors took a break before Friday's report on the labor market in the United States as a result there was a trading in a narrow corridor.