EUR/USD (a 4-hour chart)
Last week on the last trading day American currency fell versus its major competitors. Market participants closed their long positions on the dollar before the weekend. Early on the Monday morning during the Asian trading session the rating agency S&P lowered the European Union credit rating from AAA to AA+. Amid this negative background the single European currency fell to a minimum of a week – to 1.3624. However there was a growth of the EUR/USD after the United States good data release.
The GDP for III quarter was revised towards the growth up to the level 4.1%. Investors fixed profit according to their short positions due to which the UER/USD closed the trading week at a mark 1.3672.
The Great Britain current account balance for the 3rd quarter was published. The indicator was at the level of -20.7B, which is the minimum value for last years. However, the British currency ignored these negative data and during all the day was in a flat within the range 1.6315–1.6394. On the results of the meetings the Bank of Japan retained parameters of its monetary policy.
The Central Bank chairman Haruhiko Kuroda said that the regulator was ready to change its policy if it was necessary. It was said that the main risk of the significant slowdown in economic growth is the process of increasing the sales tax in April 2014. The GBP/JPY traders and futures on the Nikkei 225 perceived positively the comments of the head of the Bank of Japan, as the result we had a quotations growth . Both financial instruments renewed their weekly maximums; the pair USD/JPY also established a fresh annual maximum.