Thursday, December 28, 2006

Forex News: 28.12.2006 - What to expect after holidays

Artem Enshin, NorthFinance financial analysts speaks about the Forex market after New Year holidays:

“After two-month euro growth, we observe 200-point consolidation 1.3150-1.3350. The weeks before New Year were characterized by recession, big investors left the market and it stood motionless in expectation of events. After the holidays, we may see euro above the level of 1.3300.

It is highly possible that during the after-holiday period, when investors come back at the market, EUR/USD pair will renew its growth after monthly correction.

Further, we expect slight consolidation of dollar and set at 1.2800.

Today the market moves under the influence of inertial powers, but the real movement will follow new portions of macroeconomic results. Oil and dollar will keep their prices steady, thus dollar is not expected to experience its best days.”


Post a Comment

<< Home