The foreign exchange market is still living in conditions of high volatility and fundamental unpredictability. The investors' attitude towards the US retail sales positive release was quite sluggish; the Treasury two-year bond yields have hardly exceeded the last week maximum level as soon as there was the rebound to the previous positions. The S & P agency has downgraded the Greece sovereign rating to CCC with a negative forecast. In the press release it was stated that the S & P agency assesses the very high default probability within the next 12 months. And at once the Greece stock market increased by 8% at the end of the day! The Greece and the Germany bond yields have declined that point out to the low risk. The pair EUR/USD had decreased amid the US retail sales positive data for May. Nevertheless, the euro showed a slight growth at the end of the trades.
By the end of the day the pair GBP/USD had declined- the pair EUR/GBP quotations decline restrained the British pound sales. However the pair increased on Friday’s trades.
The US positive statistics with the upward trend in the US and the Japanese stock market supported demand for the pair USD/JPY which by the end of the day had increased. Nevertheless the pair closed the trades with a growth.
The June Michigan Consumer Sentiment Index came out at the level of 94.6. It was expected at the level of 91.4.Publication source