29.12.2015 - Investor activity remains low
Currency trading and the euro. The price of euro continues to consolidate due to the low activity of investors and the lack of publication of important statistics yesterday. It is worth noting that investors are not increasing their positions due to the holiday period. Today, the course of trading will affect data from the US on trade balance (13:30 GMT), the index of house prices in 20 major cities in the US Case-Shiller (14:00 GMT) and the consumer confidence index from the Conference Board (15:00 GMT). Growth of the euro in the near future is limited and we are waiting for the signal to sell.
Currency trading and the British pound. The price of the British pound shows low volatility due to the holiday in the UK yesterday. Today, in the country will not be published important macroeconomic data and a major influence on the course of trading will have the US dollar dynamics. Growth of price in the near future is limited and requires new incentives. We maintain a medium-term negative outlook and expect a decline in the near future.
Currency trading and the Japanese yen. The price of the Japanese yen continues to consolidate, despite the publication of weak statistics on retail sales and industrial production in the country, which was published yesterday. Investors do not want to open new positions before the long weekend and amid low trading volumes. We look forward to the resumption of the negative dynamics of the yen against the US dollar due to weak data in Japan and the tightening of monetary policy of the Fed.
Currency trading and the Australian dollar. The price of the Australian dollar fell yesterday amid falling oil prices. Analysts predict saving of the negative dynamics on commodities, which are key ones for Australia's exports. The potential for further upside is limited and we are waiting for the signal to open short positions on the Australian dollar. The medium-term outlook is negative with the objectives of 0.70 and 0.68.
Currency trading and the New Zealand dollar. The price of the New Zealand dollar continues to rise gradually, and approached to the important resistance levels. To continue the growth, the price will need a substantial boost. Given the low level of inflation and the expected reduction in interest rates of the Reserve Bank of New Zealand, we expect the resumption of the negative trend of the New Zealand dollar and maintain the medium-term negative outlook.