On Monday, September 16, the American market finished trading session with an increase. Inflow of optimism was explained, generally, by news that Lawrence Summers, being the obvious favorite of the president, withdrew the candidacy on the post of the head of FED. Summers has been considered as the supporter of toughening of monetary policy and therefore this news caused increase in demand for risk and sag of dollar in relation to the main currencies. Now chances that Janet Yellen will be chosen as the new chairman, became even more. And understanding that less aggressive candidate will come instead of Ben Bernanke, caused sharp reaction of the market.
Purchases were also supported by achievement of the agreement between Russia and the USA concerning elimination of the Syrian chemical weapon. As a result, the trading session has finished with an increase of 0,77%% for the Dow Jones reaching level of 15494.78, S&P 500 grew up for 0,57%% to level of 1697,60 points, and the index of the hi-tech companies Nasdaq has fallen for 0,12%% to a price of 3717,85.
The information that Syrian question has been solved also had an influence on commodity market, where Brent decreased to a level of 109,58$ per barrel and Light reached price of 105,40$ per barrel.
The majority of the main currency pairs opened week with a gaps, and during the day didn't close them. As a result, EUR/USD finished trading day around 1,3340, and GBP/USD – closed day at 1,5910. This morning, we can see EUR/USD traded on a level of 1.3344. Today will be released data on ZEW Economic Sentiment in Germany, which once again can confirm weakness of economic recovery in the region. Indicator growth to 45,3 from the 42 month before is predicted, however the last reports are giving the grounds to expect lower levels. If this occurs be true, pair can try to go throw the next support level on 1,3320 and go to the level 1,3280.
This week meeting of FED of the USA starting today still is a key event. Results will be declared tomorrow. Now remains less and less doubts that volumes of the program of quantitative easing will be reduced. As the most probable amount of reduction the sums of $10-15 billion are predicted. Tomorrow’s decision of FED will designate further directions of the markets.
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