US blue chips finished fourth consecutive session with the growth, while high-tech NASDAQ week showed the best dynamics for nearly 3 months.According RoyalMaxBrokers this was achieved mainly through a series of strong earnings reports.The index of wide market S & amp; P500 week added 1.8%, once again overcome the psychological mark of 1400 points.Trading in European shares also took place in a positive way: on the session has exceeded the average growth of 0.6%.
On reviews RoyalMaxBrokers confident ascent shares could not prevent even a flimsy report on US GDP for the first quarter, according to which growth rate of the first economy in the world decreased to 2.2%, well below the consensus forecast of 2.5%, as well as the data for the previous quarter (3.0 %%).According to the Ministry of Trade , slower growth, primarily due to a reduction of private investment in inventories and a drop in investment in fixed assets by non-residents.His role was played by a reduction in government spending by 3.0%, a positive factor for the economy is a significant increase in consumer spending, which increased by 2.9%, showing the strongest growth during the 4th quarter of 2010.
decision Bank of Japan to increase the quantitative easing program by 5 trillion yen meet market expectations.However, the high predictability of this move did not lead to the desired effect on the currency market: the pair USD / JPY again fell below 80.50, as well as stock index Nikkei , which ended the session lost 0.43%."In the market there is still an abundance of short positions on the yen, and before the next meeting of the Bank of Japan remaining four weeks.I expect that the USD / JPY pair stuck at this level and it will be difficult to climb higher in the short term, "commented e ndryu Cox of Citigroup .I should add that yesterday the pair failed to break the resistance of the descending channel, so RoyalMaxBrokers believes that downward pressure is maintained.
include determining the news of the coming week is to provide a meeting the European Central Bank, and is expected, ECB will leave interest rates unchanged.However, probably more cautious assessment of prospects for the eurozone economy, which is showing clear signs of decline.Among the economic data coming week will report Spain's GDP in the 1st quarter.According to the forecasts, it will point to a return to recession.In such circumstances, one can expect a substantial and pronounced movements in the currency pair EUR / USD , which this week rose to within 70 points.
