Comment on the situation on a market 24.02.14

All attention on European and German statistics today.

Quite weak data regarding US economy which is as they say due to cold winter in North America continue to have a negative impact on USD. All the factors make it impossible for US dollar to start rapidly growing against EUR. At the same time we are not sure that EUR will be under pressure after the new portion of German and European statistics regarding inflation will be published and if it is at least not worse than expected then EUR has all chanced to hit the local maximum. At the same time, if statistics is worse than expected it will definitely lead EUR decrease from 1,3685-1,3770 to 1,3660.

It can be caused by speculations that already on the next ECB meeting Mario Draghi will announce new measures to stabilize the economy of Euro Zone. Even though it is quite unlikely, but speculations can have quite strong impact on EUR.

Semen Kamensky