The US Federal Reserve has published fresh statistics on the change in assets on the balance sheet. Over the past week, the figure fell by $41.8 billion, while a week earlier the figure rose by $41 billion. Earlier this week, the ECB published its statistics, which increased its balance by €28 billion. Inasmuch as the ECB printed more money than the Fed, this the factor is negative for the rate of the single European currency.

On the other hand, we observe a steady demand for energy in the commodity market, which is negative for the dollar exchange rate, insofar as assets have been historically inversely correlated. Investors are actively buying up oil and natural gas contracts. This is partly due to the lack of supply of hydrocarbons in the world market, partly this is a banal speculative “acceleration”.

Trading recommendation: flat 1.1535 – 1.1635.