29.03.2016 - The yen continued to fall

Currency trading and the euro. The price of euro showed growth against the background of low trading volumes, which was connected the day off in a number of European countries. It should be noted that the statistics on private consumer spending was published yesterday, which rose by only 0.1% in February, against the forecast of growth by 0.2%. At the same time, personal income increased by 0.2%, which was 2 times better than expected. Today, the focus will be on the data on the index of consumer confidence from the Conference Board (14:00 GMT) and the speech of the Fed's chairwoman Janet Yellen (16:20 GMT). We expect the resumption of the negative dynamics of the euro in the near future and medium term.

Currency trading and the British pound. The price of the British pound corrected up after a heavy fall and the weakening of the US dollar after the holidays. Today British investors will return to the market after the weekend. On the trading dynamics can affect the statement of Committee on financial policy of the Bank of England (10:00 GMT). It is worth noting that investors are waiting for a large block of macroeconomic data on Thursday that may lead to increased volatility. Our medium-term outlook for the British pound remains negative.

Currency trading and the Japanese yen. The price of the Japanese Yen continued its decline against the US dollar after today has been published statistics on retail sales, which rose by 0.5% that is 1.1% less than the forecast. In addition, the unemployment rate increased by 0.1% to 3.3%. Among the positive news we should highlight the increase in household expenditures by 1.2% in February, against the expected decrease of 1.8%. Tonight will be published important statistics on the volume of industrial production in Japan. Our medium-term negative outlook remains unchanged.

Currency trading and the Australian dollar. The price of the Australian dollar showed insignificant growth against the backdrop of the weakening US dollar. Investors continue to monitor the dynamics of commodity markets, as well as the news from China. It is worth noting that the increase of the Australian dollar has a negative effect on economic growth in the country and if it continues, the central bank may lower its benchmark interest rate. Our medium-term outlook remains negative and we are waiting for the continuation of negative dynamics in the near future.

Currency trading and the New Zealand dollar. The price of the New Zealand dollar rose against the weakening of the US currency, as well as in connection with the fixing of short positions after the recent steady decline. The potential for further growth is limited and according to our estimates, the downward trend will continue in the near future. Our medium-term outlook also remains negative.

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