Foreign exchange market is recovering from the turbulence

Foreign exchange market is recovering from the turbulence

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Tuesday , March 4th, the euro was trading at Forex neutral, a day after visibly sagged against the dollar. By 9:00 MSK course key pair exchange market amounted to 1.3730 usd . / Euro. Her significant volatility caused eve events in Crimea and statistics for the euro area .

On Monday, the foreign exchange market opened lower euro. In connection with the decision of the Council of the Federation to allow the deployment of Russian troops in Ukraine for security on the market in the morning there was an increased demand for safety assets ( the yen and dollar) . “The EU and the West criticized Russia’s actions threaten to introduce sanctions against it ” – recalled analyst “Alpari” Vladislav Antonov .

” This week the focus of investors will focus on the forthcoming meeting of the ECB , which will be held March 6 – added in turn TeleTrade analyst Yevgeny Filippov . – Up to this point will a large number of macroeconomic statistics. Most important data will be France, which the experts’ predictions disappointing . ” This statistic is able to serve as a signal for a certain Mario Draghi, who at the next meeting of the ECB may well make statements about the possibility of negative rates for commercial banks. The result may be a decline in the euro to around $ 1.35

Experts ” Alfa- Forex” do not recommend nervous market participants to look at the cross-rate currency pairs. According to them, a catalyst for the growth of the defense dollar and the yen was the aggravation of the situation in Crimea. As a result, price becomes the main currency pair market . Specific ways of resolving the crisis Ukrainian offered only German Chancellor Angela Merkel . Likely solution will be found on this week, so that the euro will return to the level of $ 1.38 , analysts concluded .