As has been mentioned, in September in the financial markets expected - high volatility. This is due to the situation in Syria, the Fed meeting, the next issue of the U.S. debt. Market participants return from holidays, seasonal factors cease to influence the quotes and the currency markets with market makers are gradually coming volumes. As a rule, the markets are trying to advance in prices lay the probability of certain events. Current early fall - is no exception. In anticipation of the key battles of the participants are trying to act now. After the Foreign Affairs Committee of the United States adopted a draft resolution approving strikes against Syria, the probability of a storm on markets in financial assets has increased substantially. At this point of the draft resolution would have the whole Senate vote. It will be next week, as long as the players again will shift attention to economic factors.
Very interesting statement yesterday made the head of the European Council Herman Van Rompuy. Among other things, he said that the existence of a fundamental crisis of the euro area is completed. Last year showed that the euro can survive in the most demanding conditions. And now talk about the possible collapse of the euro area will be smaller. In contrast, in the coming year is expected to expand at the expense of the entry zone of Latvia. Of course, there were economic problems, and need to be dealt with an unsatisfactory situation on the labor market, but the main problem, according Rompuy allowed.
As for the U.S. economy, according to the Beige Book, the growth continues a very moderate pace. The regulator noted a slight increase in the manufacturing sector, the service sector, a slight increase in spending and a symbolic increase in sales in the real estate market. Concerns about the decline in property prices from the Fed is getting smaller.
Quotes EUR/USD in the last hours show upward movement. It is possible that players will want to test the local maximum at the level of 1.3220 set last night. While the medium-term trend in the pair remains bearish. Participants who hold short positions can pull the protective stop as we move to the new euro minimum values.
In the U.S. session today scheduled publication of a block of important news on the economy of the states. Some of them can be used to estimate at labor market statistics, which opens on Friday. Some experts believe that the data will be strong and it will provide support for the U.S. currency. The results of the ECB is unlikely to be able somehow to surprise markets. But Mario Draghi's statement at the press conference will be of interest to players.
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