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Forex · News · Forex Forecasts

NEWS / Forex Forecasts

EURUSD, GBPUSD. Markets of Asia, Europe and America prepare for New Year holiday.

16:11 12/30/2005

Today is the last trading session of current year. The Japanese markets, and also the most part of other shopping centers in Asia were closed at midday. Therefore trade flows are quite small, that affects sharp and volatile movements of the basic currency pairs.
The dollar has a little become stronger within the limits of a currency corridor - exactly at the middle of a range 1,2065-1,1640 on euro.
Yesterday to closing the American session the dollar weakened a little. The reason for that could be data on the secondary housing market, which were worse than the forecasts and have confirmed the fears about cooling the given sector of economy. In the thin market it can be quite enough to provoke the movement.
However already today the dollar has practically restored its losses. 
At the beginning of the tenders the bull moods on dollar has been connected with consumer confidence data, released yesterday. The reports published on Thursday, as a whole have depicted quite positive picture over the American economy, but have not influenced essentially on the market.
Dealers say that trade was dull, that is the usually for a week between Christmas and New Year holidays.

As a whole the general background of moods can be estimated as neutral.

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