Foreign Exchange Market Finansy10-03-2009 Judge: Russian currency market shows calm last week, as analysts say, was the Russian foreign exchange market under the slogan "peace and quiet, but God's grace, while on foreign markets continues rage of high volatility. The European currency, despite the actions of leading central banks, failed to demonstrate a certain commitment to growth that can survive this week. The past week has opened a very small margin in favor of the dollar, as sustainable risk aversion amid falling stock market indices, as well as expectations of interest rate cuts by the Bank of England and the ECB, according to chief dealer GK "Forex Club" Alexey Trifonov, contributed sales of high- currencies. In addition, some investors disappointed by the outcome of the summit of leaders of EU countries, which took place over the weekend. EU leaders have decided not to provide coordinated assistance to countries in Central and Eastern Europe, which, in turn, further undermine the confidence of market players in the good prospects for the European currency. And when the stock indices once again changed its direction, optimism among market participants and at all diminished. Cause of the fall of exchanges was the publication of disappointing data on Australia, which once again highlighted the depth of the global economic downturn.
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