Mikhail Kurakin
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Forex: News from Dubai support the euro and pound, dollar awaits Fed meeting
Start a new week for a single European currency in the forex market (Forex) has seen good: this morning during the Asian session, the euro strengthened against the U.S. dollar against the backdrop of news from Dubai. So, on Monday became aware of the fact that Abu Dhabi would not be killed neighbor and will allocate 10 billion to repay debt Dubai World.
Note that it is today, the deadline for repayment of Islamic sukuk bonds, which amount to the Dubai World $ 4.1 billion and payments now will be to repay debt Nakheel worth $ 3.52 billion remaining funds will be used for current expenses, such as: payments percent of the current replenishment of working capital, repayment of debts to suppliers and contractors.
The news certainly is positive, and this is clearly visible on the euro and the pound sterling on forex. As of 10:00 GMT, the euro is worth 1.4662, and today the currency is likely to be bargaining in the corridor 1.4650-1.4750. We remain of the view that the rise of the dollar, observed last week, short-term nature and the potential uptrend for the EUR has not been exhausted - in favor of the shows today and the technical picture of the auction.
It is obvious that today, as on Tuesday, investors are unlikely to make sudden movements in the currency market on the eve of Wednesday, the Federal Reserve System, its decision on rates and follow-up comments. Of interest are the comments it is because the level of rates will remain at current levels. In the words of representatives of the Federal Reserve traders will look for hints of a possible collapse of mitigation policies, as well as the direction of the future monetary policy.
Analytical Division LiteForex.
Start a new week for a single European currency in the forex market (Forex) has seen good: this morning during the Asian session, the euro strengthened against the U.S. dollar against the backdrop of news from Dubai. So, on Monday became aware of the fact that Abu Dhabi would not be killed neighbor and will allocate 10 billion to repay debt Dubai World.
Note that it is today, the deadline for repayment of Islamic sukuk bonds, which amount to the Dubai World $ 4.1 billion and payments now will be to repay debt Nakheel worth $ 3.52 billion remaining funds will be used for current expenses, such as: payments percent of the current replenishment of working capital, repayment of debts to suppliers and contractors.
The news certainly is positive, and this is clearly visible on the euro and the pound sterling on forex. As of 10:00 GMT, the euro is worth 1.4662, and today the currency is likely to be bargaining in the corridor 1.4650-1.4750. We remain of the view that the rise of the dollar, observed last week, short-term nature and the potential uptrend for the EUR has not been exhausted - in favor of the shows today and the technical picture of the auction.
It is obvious that today, as on Tuesday, investors are unlikely to make sudden movements in the currency market on the eve of Wednesday, the Federal Reserve System, its decision on rates and follow-up comments. Of interest are the comments it is because the level of rates will remain at current levels. In the words of representatives of the Federal Reserve traders will look for hints of a possible collapse of mitigation policies, as well as the direction of the future monetary policy.
Analytical Division LiteForex.
