There is probability that an agreement between Democrats and Republicans in the United States before the end of the year will be generated, thereby avoiding a fiscal disaster, it is giving confidence to the markets worldwide.
This renewed climate of optimism was on Wednesday, with the main actions of Wall Street growing in good shape and giving major stock indexes move higher.
These movements were reflected in the prices of major currencies, which led by the euro, and were rapidly gaining strength from noon New York yesterday.
In this context the euro again is about 1.30, near 1.3007, the highest of the week so far, which can be overcome in the coming hours. If this happens, 1.3030 and 1.3055 are the next upside targets to consider.
The pound which presented all year rally is much attenuated that the euro remains a moderate upward trend against the dollar, up from 1.60. Meanwhile, the Canadian dollar was strengthened by an unexpected and sharp drop in oil inventories in the United States.
The data to follow during the American session is Weekly unemployment claims and the second of three measures of GDP in the third quarter, neither of reports generated significant impact on prices. At 10:00 pending home sales data is published with a highly attenuated effect on currency prices.
The material has been provided by Instaforex Company - instaforex.com
For detail explanation and best discovery on market trends you may visit via Fundamental Analysis For November 29, 2012 . Thanks for your support on Fundamental Analysis For November 29, 2012
