27.03.2023: Scholz's statements of zero... (sp)

Positive data on the US business activity and news about problems in Deutsche Bank boosted the US dollar.Now, the market is trying to regain balance. The rumors about an increase in the cost of credit default swaps on the securities of the largest German bank were not confirmed. At the moment, the market situation is quite calm. Olaf Scholz has managed to alleviate concerns, saying that the financial situation in Deutsche Bank is perfect and the rumors are of speculative nature.Although such statements may cause anxiety, at that particular moment they calmed down investors.If the ECB confirms the words said by Olaf Scholz or assures investors that it is ready to support one of the largest banks in the world, the euro will have a chance to recoup all the losses. In the event of this, the pound sterling will also gain in value.On the trading chart, we see that the euro started a correctional process against the US dollar after considerable growth in the previous week. Buyers faced a strong resistance level of 1.0930, which led to a rise in the volume of short positions.It is quite possible that the magnitude of the existing correctional phase has already reached its limits. In the event of this, the euro may start to recover at least to the level of 1.0800. If traders continue to support the bearish movement, the quote is expected to settle below 1.0700. This may lead to a change in the market sentiment, thus prolonging the correctional phase. Meanwhile, the pound sterling hit 1.2200 amid a correction from the level of 1.2300. As a result, the volume of short positions dropped. If the price fails to settle below 1.2200, the pound sterling will fully recover after the recent correction. Otherwise, the currency will drop to the support level of 1.2150.

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Calendario y reseñas

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Elección del editor

The United Arab Emirates seem to be a land where nothing is impossible with its capital city Abu Dhabi being a place of dreamlike fantasies. Glassy skyscrapers and futuristic buildings in the midst of Arabian dessert boggle imagination. And it is hard to believe that half a century back this one of the world’s richest cities called "Arabian Manhattan" did not even know about electricity and water pipe. Today, firmly high oil price which has become a component of UAE economic blossom can become a recipe for success of every trader. Abu Dhabi which is one of the major financial centers in the world holds annual prestigious exhibitions and conferences. In 2011 at the annual event «Forex&Investment Summit» the world-wide known broker InstaForex picked up the "Best Retail Forex Broker" award.

Elena Avramova, Partner Relations Manager at International Association of Forex Traders: "Selection criteria for partners and prospects of cooperation with InstaForex" (ShowFx World Exhibition in Moscow)

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