Forex News

“On Good Friday Holiday stock exchanges in many countries are closed. This contributes to low liquidity at the Forex market and closed trade of precious metals in many banks”, Sergey Popov, NorthFinance analyst says.

The most important news of the week is nonfarm payrolls in the USA. The last reading was 97.000. At the moment the market participants expect various figures, from 50.000 to 150.000.

However, the majority of market participants are inclined to diminish the expectations in the light of weak US economy, overpriced interest rate and possible start of very expensive campaign in Iran.

Many analysts share the opinion that in case of war in Iran, the USA will come across huge problems in rather calm Shiite regions of Iraq, which are under control. The loss of control in Iraq will indicate complete fiasco of all Iraq campaign against Saddam Hussein’s regime, and with appropriate support of press and social organizations, may result in serious transfers in many departments of US government, up to Jorge Bush’s impeachment.

Payrolls below 80.000 may seriously support euro and move its rate to historic maximums. The obstacle for this scenario is ECB, which reportedly actively sells euro above 1.34. This fact is revealed in view of euro which could not reach its kea level 1.3450 at the American session.