Comment on the situation on a market 29/11/13

Markets today are going to be quiet

Today there is practically the second unofficial holiday in USA – “black Friday”, a day when Christmas sales begin and Americans hurry to buy presents for their relatives.  This day is an important indicator of American consumer confidence for experts and analytics. In the last year the profit in retail stores during Holidays was about $579,5 billion, and this year it is being predicted that the volume of sales will decrease. This is a good indicator characterizing the desire of US citizens to spend their savings and it shows their consumer confidence level.

As for the situation on financial markets then there is hardly any activity until Monday, because in fact Holidays will last from Thursday till Sunday.

Next week there is a big block of data from USA coming out, and in the first place traders will analyze employment data that will definitely influence the market. Dynamics on the currency market is going to be formed on the basis of this data.

Semen Kamenski​