16, August 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

Despite the liquidity deficit and the lack of public interest of the market, isolated data on the global economy are beginning to paint an interesting picture. This, of course, is not Picasso, not a masterpiece, but in any case, we can say that, policy makers, try to paint the basement desperately and to daub something significant that can influence the market. It is enough to look at Mark Carney evaluateы what efforts are required in order to win over the multitude of opinions. Carney has just started, and he has not won "his" team.

Managing Carney was unable to convince the other eight members of the of the Bank of England's Monetary Policy Committee in the introduction of the promise not to raise interest rates as long as the unemployment rate is not fallen in the UK. "The Outsider" (of the Central Bank) Martin Weale voted against the "guide", as it was shown by the Bank of England meeting minutes released the other day.

The protocol was considered a little on the tough side, as the expectations of the market were inclined to unanimously in favor of a landmark policy. The vote was 8-1, Weale did not agree to a shorter time horizon for the direct instructions of retention policies. What is likely to make the work a little harder for Carney. This will make the MPC policy a little more shaky.

Nikkei futures in Chicago closed at 13,875, down 1.0% from the close of 14.010 in Osaka.

Analysts say that the volumes are likely to remain low as the season of reporting profits comes to an end, while many market participants are absent during the summer holiday season.