Rmb: Ben, run the machine! Qe1, Qe2 AND

According to RMB , June 7 was another day this week, which from the very beginning carried a huge powder charge, which could significantly affect the quotes of virtually all assets traded on financial markets. The main intrigue was in the speech of the head of the Fed Ben Bernanke, or rather in the possibility of initiating an additional round of quantitative easing QE3. Most investors, in fact, had no doubt that Ben would be more determined than his ECB counterparts. But the head of the Fed, not used to being predictable, has not turned out to be so now. The whole performance was held in neutral tones.

The foreign exchange market also decided not to rush to conclusions, at least until the end of the conference, whether it is not enough, and suddenly the Fed postponed something to the sweet. The pair EUR / USD, slightly retreating at first to the level of 1,2544, then, apparently, realizing that the disorderly movement can not last long, once again thought everything that Bernanke said. He did not say anything about the possibility of launching a new round of the QE program, but noted that "nothing, including QE3, can not be ruled out in advance." According to RMB , the Fed remains ready to act if it is necessary to protect the economy in case of aggravation of the financial crisis. Thus, Ben did not live up to the expectations of those who sincerely believed in QE3, suppressing all the bullish sentiment that was present in the market. The European currency changed the vector of movement from ascending to descending and went down. The trading session was closed near the level of 1.2560. In addition, additional reasons for sales were the fact that the rating agency Fitch downgraded the rating of Spain, since it considered that under the new circumstances, the government would need at least 60 billion euros, which is about 6% of the national GDP, to normalize the banking sector of the country. Moreover, the rating outlook remains "negative", as it reflects a serious risk of further downgrades. As a result, the risky assets were again under strong pressure from the fundamental grounds. Consequently, in the very near future, all attention will again be focused on the upcoming Greek elections with the potential to partially resolve the economic problems that have developed around the currency bloc. Downward risks are still relevant.

The British pound was waiting for its own makrostatistiki. The main spokesperson, which was made by the Bank of England, reported on the key interest rate. In addition, the market was present with the probability that the Bank of England will be the first to give the green light to the quantitative easing program QE. But since this did not happen, the pound did not have any serious grounds for weakening its own rate. According to the RMB , the GBP / USD reached its daily high near the level of 1.5599, but by the end of the trading session it lost some positions, yielding to that general downward Mood, which was formed in the market. The pound retreated more than 50 points, closing at 1.5596.

The Australian dollar again showed a beautiful upward movement. After the opening of the trading day near the level of 0.9925, the Australian immediately went upstairs, having tested the daily maximum at 1.0001. The outburst of the positive was significantly contributed to the interest rate cut in China, which, however, literally evaporated after the US Federal Reserve Chairman Ben Bernanke did not live up to market expectations and made no hints at the upcoming round of quantitative easing. Thus, despite this height, the pair AUD / USD still had to retreat significantly. As a result, the trading session was closed at 0.9892.

The Japanese yen again pushed back its positions. The daily volatility was more than 50 points, which, according to RMB , is a fairly powerful move for the USD / JPY currency pair. The closing price is more than 40 points higher than the opening price, having hooked at the level of 79.62. The entire trade session, the catalyst for the movement on the pair was the dollar. The absence of signals for the implementation of the long-term refinancing program only strengthened the dollar's position, allowing it to put a little pressure on the Japanese currency. True, such pressure is exactly what the Japanese authorities need.