Yesterday we could see rapid growth on the world markets after the meeting of the European Central Bank, Bank of England and speech of Mr. Draghi. Increase in the main world stock indexes had more emotional character rather than fundamental. In general, the head of the European Central Bank once again calmed investors with verbal interventions and there were no steps undertaken. Mr. Draghi once again confirmed preservation of stimulating policy of the European Central Bank, and let investors know that interest rates are going to be kept on a low level for a long time. In comparison, more or less the head of the European Central Bank gives us the same comments and information that we consequently hear from Mr. Bernanke.
Despite the fact that the trading session in the USA has been closed, the leading stock exchanges finished the trading session on Thursday in positive territory. The index of the London stock exchange FTSE 100 grew by 2.9%, the index of the Parisian stock exchange CAC 40 added 3.08%, the index of the Frankfurt stock exchange DAX rose by 2.11%.
FX
As for the currency market, we saw steep falls in many currencies in relation to the American Dollar. EUR/USD from the level of 1.3008 dropped down to a minimum on 1.2882, this morning - pair is traded on a level of 1.2897.
Great British Pound was the first one to start correction in relation to the Dollar, having vigorously reacted to hints from the Bank of England. The monetary policy, as expected, remained the same, however Mark Carney didn't want to waste time and already made changes in tactics of communication with the market. If earlier the accompanying statement, in case of an invariable course, wasn't published, now decisions and actions of the bank will be more transparent. Within comments it was noted that despite positive signs of economic recovery, in comparison to historical measures – it still remains weak. This means that the most probable level of an interest rate will not be defined by the current signals. These words immediately sent pair GBP /USD down: from level of opening at 1.5277 to a minimum of 1.5054, having finished the trading session only 15 points higher. This morning, the Pound continues to bargain next to the level of 1.5000.
Today, investors are going to wait for unemployment figures from the United States, which will have an influence on the markets and will help to decide on further direction of the markets.
Despite the fact that the trading session in the USA has been closed, the leading stock exchanges finished the trading session on Thursday in positive territory. The index of the London stock exchange FTSE 100 grew by 2.9%, the index of the Parisian stock exchange CAC 40 added 3.08%, the index of the Frankfurt stock exchange DAX rose by 2.11%.
FX
As for the currency market, we saw steep falls in many currencies in relation to the American Dollar. EUR/USD from the level of 1.3008 dropped down to a minimum on 1.2882, this morning - pair is traded on a level of 1.2897.
Great British Pound was the first one to start correction in relation to the Dollar, having vigorously reacted to hints from the Bank of England. The monetary policy, as expected, remained the same, however Mark Carney didn't want to waste time and already made changes in tactics of communication with the market. If earlier the accompanying statement, in case of an invariable course, wasn't published, now decisions and actions of the bank will be more transparent. Within comments it was noted that despite positive signs of economic recovery, in comparison to historical measures – it still remains weak. This means that the most probable level of an interest rate will not be defined by the current signals. These words immediately sent pair GBP /USD down: from level of opening at 1.5277 to a minimum of 1.5054, having finished the trading session only 15 points higher. This morning, the Pound continues to bargain next to the level of 1.5000.
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Today, investors are going to wait for unemployment figures from the United States, which will have an influence on the markets and will help to decide on further direction of the markets.
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