The financial climate has improved substantially in Europe in recent days as a result of the decision, now stronger, to create a unified banking, which allows troubled banks to be financed through special mechanisms.
The European Union announced, this time with more emphasis, its willingness to remain Greece in the eurozone.
This favors the growth of the single currency, which now becomes unstoppable upward. It beat smooth areas of 1.31 and 1.32, and may touch 1.33 in the next few hours.
Meanwhile, based on a report that UK inflation is steady at 2.7%, the sterling also shows signs of strength against the dollar, trading above 1.62, and the upward trend on the short-term charts.
The Swiss franc is similar to the euro, and also comes with short-term uptrend. As the single currency looks overbought, on the contrary, reversal patterns indicate a turnaround.
Meanwhile, the Australian dollar falls losing its uptrend extending from mid-November to economic growth data from Australia for less than expected. Pay attention, that AUD usually anticipate the movements of other currencies.
The yen continues its downward move. The Bank of Japan meeting can make a change in monetary policy, starting to pump money into the economy with an annual inflation target of 2%.
Following data should be considered, construction permits in the United States, at 10:00 Eastern, and oil inventories at 10:30, influencing the price of the Canadian dollar.
The material has been provided by Instaforex Company - instaforex.com
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