The Forex market had no significant movements in the European session on Wednesday. Only a Euro’s recovery from the low of 1.3284 that occurred during early trading hours and slow growth of the sterling, which rose due to the Minutes of the Bank of England decided not to change interest rates, and maintain bond purchases, as it has done for several months.
The probable formation rate that we saw earlier this week, double top, was undermined, and in this context, taking the previous upward movement, the break of 1.3375 could mean the beginning of a new upward cycle. It seems, however, that this will happen easily.
The situation is different in the New York Stock Exchange. The Dow Jones continues to break records, now more than four years before the outbreak of the 2008 crisis. Of course, trading volumes are much lower than that time, and prices are sliding toward either side, more easily in such a context.
The yen continues recovering its positions, although more slowly. The Bank of Japan's policy is designed to overcome deflation and achieve sustainable economic growth.
During the U.S. session monetary policy of the Bank of Canada will be announced, which will probably leave rates unchanged benchmark interest at 1%. The Canadian dollar remains in expectation of the data, but could give positions during the day, seeking parity with the dollar.
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 January 23, 2013 . Thanks for your support on Fundamental analysis for January 23, 2013
No comments:
Post a Comment