Today was one of those special days on the market in which seemingly nothing happened but in reality all the unexpected happened . It's one of those days when we have to make an extra effort to explain the situation and it can be another effort to understand.
Nothing happened because the price activity of almost all developed markets within a narrow margin established for a few days , which means that there were breaks in trends but was expected. Yesterday we explained that we were living a time of heavy calm in the markets as a prelude to a storm. What is not said is that that calm would last a little longer. Really do not know much more .
But everything happened : Apparently, Russia is about to begin military exercises on the border with Ukraine following the death of 5 insurgents pro-Russian . These events produce strong movements of capital to safer regions like Europe would be in that part of the world. Also motivate fluctuations in commodity prices and naturally in the currencies in which it is perceived that the EURUSD could be strongly supported.
On the other hand , reports USA gave mixed results since the report durable goods orders was 2.6 % which is the highest in the last 6 months , and Initial Jobless Claims was much worse than expected.
Finally, the statements of the President of EBC today did not bring anything new and the community perceives that the currently prevailing decision is to do nothing before the next meeting in June.
What we do know is that the astonishing calm have a near end and it could be next week with the release of first quarter GDP , ISM , the decision of the FOMC rate and the change in nonfarm payrollsForo de Forex Trading United