With a wave of euphoria began the year in the financial markets, with emphasis on the New York Stock Exchange, where major indexes closed the first day of January with strong gains.
The US dollar gained to its strongest level in almost three weeks against the euro on speculation U.S. policy makers will struggle to reach agreement on raising the nation’s debt limit, underpinning demand for the safest assets.
The market is quite divided at the time as to the strength of the currency. As said, the euro, the pound, and the Swiss franc positions abated rapidly against the dollar during yesterday’s trading session, while the yen remains weak, reaching lows of August 2010, and with a high probability that this dimension will be overcome in the short term.
But currencies linked to oil remain very strong, as the Canadian dollar and the Mexican peso, which led to the break barrel on Wednesday, when exceeded $ 94, reaching its highest since 19 September.
The Australian dollar also looks bullish, but it may change in the next few hours.
The fundamental data has become extremely important in the short-term trends, and this is important for currency traders. The employment figure of Spain, far from ideal today introduced a major upgrade, the euro rose to its low; it has touched 1.2122 earlier today.
Later, ADP Non-Farm Employment Change data will be released, which may reflect an increase in the creation of jobs, a figure that is at the expense of the official report will be released on Friday, along with the unemployment rate.
Following data should be taken into account: starting the first meeting of the Bank of Japan under the rule of Abe. The Japanese leader has already announced that the most urgent thing is to get out of deflation and stop the yen's appreciation. The BoJ could then surprise with some intervention in the hours to come.
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