August
12
23:20
Forex Analysis

Analysis of the Forex currency market on 05/08/2015

Hello.Let's see what interesting things have in the Forex market trading 5.08.2015

XAGUSD

SAGUSDaili 5082015

price of silver has failed once again to pass the level 14.401 and bounced formed a pattern of inner bar.Probably worth the cost and trying to break the downtrend.The deal on the pattern recommended go carefully, becausesignal against the trend.

Analytics banks

USDJPY

Limit orders:
Morgan Stanley - USD / JPY: Buy limit at 122.8, T / P: 125, S / L: 121.2

USDCAD

Limit orders:
Danske- USD / CAD: Buy limit at 1.3062, T / P: 1.3337, S / L: 1/2972

Morgan Stanley - USD / CAD: Buy limit at 1.31, T / P: 1.36, S / L: 1.3

USDCHF

Limit orders:
Morgan Stanley - USD / CHF: Buy limit at 0.96, T / P: 1, S / L: 0.955

Fundamental analysis

Canada

Canadian dollar hit a fresh 11-year low

Canadianthe dollar hit a new 11-year low against the US dollar yesterday, as lower oil prices and the prospects of further interest rate cuts are still hurt sentiment Canadian currency.

Canadian dollar closed at 75.8

7 US cents on Monday, falling by more than half a percent from Friday's close.This is the lowest figure for the actual moment, in comparison with the closing at 75.82 cents August 30, 2004.

«The loonie remains vulnerable to the movement of oil prices in the current circumstances", commented on the situation foreign exchange strategist at Scotiabank Eric theory in the morning bulletin.

The theorem also noted that foreign exchange markets are predicting a 50% chance of a quarter-percent reduction in the key rate of the Bank of Canada over the next 12 months.The central bank has lowered the rate klyuchevayu exactly the same amount of 15 July.

On the other hand, the expected rise in interest rates the Fed this year will most likely lift the US dollar relative to the Canadian dollar.

UK

UK economic growth will slow in the third quarter, according to the National Institute of Economic and Social Research (hereinafter NIESI), contrary to the previous estimate.

representative of the Institute said the economy will expand by 0.4% in the three months to September.

This is only half of the previous May's forecast rate of NIES pointing at that time by 0.8% growth.

Growth in the construction sector also slowed.

However, NIESI said that the UK economy will expand by 2.5% this year, which is consistent with the May estimate.
In July, the Office for Budget Responsibility peresmotelo its forecast for GDP growth in 2015 from 2.5% to 2.4%, due to slower than expected growth in the beginning of the year.

economy grew by 0.7% in three months, which contributed to a significant increase in oil and gas production.

While as NIESI is optimistic forecasts for the economy Velikopritanii he tells all about the same weak performance problems.
Simon Kirby, a spokesman for the institute said: "This is the main domestic risk.»

Inflation was expected NIESI go beyond zero to the end of the year due to the low oil prices and a strong pound.Mr. Kirby also suggests that the increase in value of the pound sterling and the fall in oil prices -kratkovremennoe phenomenon.

Also, the institute predicts increase in the key rate of the Bank of England in February, in the first quarter of 2016.In other words, it is expected the first since 2007, raising the interest rate.