Daily Market Review 28 of September
OVERVIEW

The Quantitative Easing in the USA had a big impact on the markets. Then the attention gradually shifted to the situation in Europe, which as expected didn’t demonstrate any improvement. In particular one should pay attention to the fact that the fifth region in Spain has already addressed the governments for help. Analysts worldwide mention that a few coming weeks might be quite unpleasant for Spain and its obligations’ market. Among investors there is a growing concern about the situation with Greek budget and they suppose, that the Euro rally in the beginning of the month is not stable. It is presumed that the current downward trend has the potential for development and the monthly forecast for Euro is around $1.26.

CURRECNIES

EUR/USD

Yesterday the Euro grew against the Dollar from 1.2828 to 1.2928. Spain is still in the focus. Analysts believe that in this connection the pressure on Euro will remain. The recent growth is temporary. The Resistance is at 1.3170. The Support is at 1.2800.



GBP/USD

Yesterday the Pound appreciated against the Dollar from 1.6164 to 1.6257. The British currency is ready to pass above 1.6309, but this scenario will depend on stable demand for the Euro. The Resistance is around 1.6309. The Support is at 1.6130.