www.varchev.com

Continued support for the dollar index in consolidation

EURUSD European currency weakened against the failed vote for the presidential election in Greece and speculation of future quantitative easing by the European Central Bank, through purchases of government bonds. The dollar remains supported in the long term, as expectations of an early increase in interest rates and improved economic data are in favor of the greenback. Today we expect important data on consumer confidence in the US, as the expected increase can reinvigorate USD.

GBPUSD pair continues shortovoto movement, as sentiment remains bearish in anticipation of today’s data from the UK Nationwide index and forecasts for a fall, may further stimulate the increase of USD against the pound. Data from last week’s gross domestic product in the US and UK are the same in favor of the US currency after the US GDP surpassed expectations and UK data is not justified forecasts.

US indexes are likely to continue upward movement, after having supported by a good performance last week in the US. Today we expect better data on consumer confidence, which is also likely to support US indices. Today’s session is the last session of normal working hours, it is possible to see the closing of positions and take profit. The price of oil is not expected to affect today’s movements.

In European indexes might see slight adjustments to take profit, then continued longovite movements. Oil marked a new decline, which may negatively impact on the indices and the failed vote for presidential election in Greece, which analysts say will affect the situation in the entire euro area. The German Dax 30 index, and SMI today is the last day of the week, which could lead to greater volatility in the market.

Varchev Finance


 Varchev Traders


Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance