For the first half of yesterday's trading session was characterized by a symbolic strengthening of the dollar. Publication of the minutes of the last meeting of the Federal Open Market Committee, the Fed is not particularly affected the dynamics of the major currency pairs. Grown up a little volatility in the moment of the news has been replaced by a continuation of the growth of the U.S. currency. Market participants have not heard specific statements from the representatives of the monetary authorities. The main focus of the report was made on positive expectations regarding the U.S. economy.
The August U.S. macroeconomic statistics are likely will clarify to market participants. Labor market at the moment is the most important indicator of the state of the economy. On it, first of all, will focus on the September FOMC meeting. Factor that can slow down the tightening of monetary policy remains inflation, which can remain low for a long time. Thus, to talk about any consensus on QE3 of the Federal Reserve is not necessary. All this creates considerable suspense in the foreign exchange market.
Quotes of the currency pair EUR/USD is at the level 1.3330 in early European trading session. Confirmation of the breakdown level of 1.34 and has not happened. Eliminate the risks of continuing the upward movement will be possible only in the case if the quotes euro plunge below 1.3275 . Aggressive short positions open up to this point is not recommended. Targets below - 1.3000 and 1.2750 .
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