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23.11.2016 - Trading volume will decrease at the end of the week against the background of the celebration of Thanksgiving Day

Currency trading and the euro. The price of euro continued to consolidate after investors decided to fix positions after a strengthening of the dollar in recent weeks. Volatility in the next few days will be low due to holidays in the United States, where will celebrate Thanksgiving Day. Today, it is worth paying attention to the statistics on the index of business activity in the manufacturing and service sectors of the Eurozone (09:00 GMT), durable goods orders in the US (13:30 GMT), new home sales and consumer confidence index in the United States (15:00 GMT). In the near future we may see a corrective rise of the euro, but the medium-term outlook remains negative.


Currency trading and the British pound. The price of the British pound continued to decline after the recent correction. The main impact on the dynamics of trade is still providing speculations about the expected scenario of the UK’s exit from the EU. Investors await the publication of important statistics on GDP growth in the 3th quarter on Friday. According to our estimates, there is a possibility of strong movements in the coming days due to low trading volumes due to holidays in the United States. Our medium-term outlook remains negative and we are waiting for reduction of quotations in the coming days.

Currency trading and the Japanese yen. The price of the Japanese yen failed to show a significant strengthening within the correction and as a result returned to the local minimum. The high probability of the Fed raising interest rates at the meeting on 13-14 December has already been partially taken into account in the price, but investors will keep an eye on the rhetoric of the American regulator. Ultra Soft Bank of Japan's monetary policy will also continue to put pressure on the yen. The growth of quotations is possible in case of decrease on the stock markets in the second half of December and beginning of January, which will increase the demand for defensive assets. Our medium-term outlook remains negative for the yen.

Currency trading and the Australian dollar. The price of the Australian dollar continued to rise within the correction despite weak statistics on construction in the country. Thus, the volume of finished objects in Q3 fell by 4.9%, against an expected fall of 1.7%. Support also was the recent strengthening of oil prices caused by the progress in the negotiations of the OPEC countries cutting production volumes after a meeting of the cartel on 30 November. Our medium-term outlook remains negative and we look forward to the resumption of the fall after the end of the current correction.

Currency trading and the New Zealand dollar. The price of the New Zealand dollar ceased to decline amid fixation position after a strong downward movement. Investors await the publication of important statistics on the trade balance tomorrow. In recent months, trade balance data disappointed investors, and this time the situation may repeat itself. Traders continue to monitor the dynamics of the Australian dollar and the yuan, as well as the situation on the dairy market. We forecast a drop in prices in the medium term.

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RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.
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The CIF license of PFX Financial Professionals Ltd has been suspended by the Cyprus Securities and Exchange Commission until the 24th of December 2016. Please click here
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