EUR/usd

The US market was trying to form a rebound off the weekly open almost all through the day yesterday, but these attempts were ruined by the bears' finale. As a result, the stock exchanges again fell sharply, developing last week's decline. This behaviour of the stock market has a beneficial impact on eurusd. During bears' attacks the euro is growing against the dollar. Yesterday afternoon the pair went as high as 1.2757, thus growing by a figure and a half over the day. The fluctuations of the recent week vividly show how much the market volatility has increased. Traders are trying to guess which stance CB officials stick to and also how cautious the business and households are becoming. Now the current signals are quite contradictory and the market is fluctuating considerably. Besides, there is an obvious opposition between the cautious medium-term investors , staking on the long-term prospects of USD's growth, and those, who seek to lock in profits from the previous rally of the dollar. Some time ago we noted that periods of sharp fluctuations end in either a rebound or strength gathering before the next jerk. At such moments big players may kick smaller ones out of the market, gaining enough liquidity for a powerful attack. As we see, even on quiet days in the absence of important macroeconomic statistics EURUSD can fluctuate  by 1.5 figures, to say nothing about the moments when important data are published. For instance, today's ZEW statistics are able to arouse strong market volatility. Analysts expect that the main indicator will fall from 6.9 right to 0.2. At the beginning of the year this indicator was at the cyclic highs above 60. Last time the indicator was negative slightly less than two years ago. 

GBP/USD

The British currency lacks the pep of the euro. The cable's rebound is limited by the pressure of the markets, which it closely and directly correlates with. But in the meantime players are prevented from active stakes by today's release of inflation statistics. In general it is expected that the annual consumer inflation will slow down and producer prices will decline against the previous month, but will show some stabilization annually. If the inflation statistics show an obvious deviation from the forecasts, it will be enough to shift gbpusd from the current position of 1.6070, where it has been fluctuating already for a week and a half. 

USD/JPY

The mood for adjustment in the markets helped usdjpy-bears push the rate below 107.00, thus going below the consolidation level in the middle of September. The further targets of decline can be set at 106.60 and 106.00. Should there be an upward reversal, the primary aim of bulls will be to close the gap of the beginning of the week, which will happen after reaching 107.65. 

gold

Together with other markets Gold keeps moving in accord with the mood around the US assets. Their decline arouses consumer interest. As a result, the precious metal continues its feeble attempts to form a bottom and bounce off the annual lows. The correction has already made 61.8% of the decline in August. The next target of growth can already be set at 1250 against the current 1233.