The dollar experienced a strong recovery on all fronts, in a movement that began in the late Thursday in New York. It happens mainly due to the FOMC minutes, alluding to his last meeting in December, showed a difference of opinion among members of the body for the purpose of extending and expanding the stimulus to the economy.
Several members were in favor of carrying 85 billion dollars buying assets only through the end of 2013, while others considered it to be exaggerated. The criteria, which also were not unanimous, were finally extended to the amount mentioned in the plan, prompting the falling of the dollar last year.
Moreover, and as concerns technical questions, dollar pairs had started the year with major gaps, which have been covered in the last hours. The exception is the USD/JPY pair, which is kept very up and no change of direction is observed at the moment. The Japanese government's policy of paying off is devaluing the yen quickly, at least at this early stage. But, do not forget to cover the gaps and one was under 84.
Another crisis is looming in the United States; similar to August 2011, it left the country to the brink of default procedure. Legally, the Government has taken all possible debt and raised that ceiling that there will be grounds for tough negotiations between politicians who play to measure their strength, but are weak to make decisions and solve problems.
Precisely, the variable that moves the currency market will have its first test during the American session on Friday, when at 8:30 of ET this data is published December non-farm jobs. As it is known, the movements of currencies at that time are often unpredictable and sudden, and much more, when turnover is low, as is it was in New York. The unemployment rate, which has gone down suspiciously in the months before the presidential elections, would be 7.7%, very high, but significantly better than in the worst moments of the crisis.
ISM Services index is also known at 10:00 and oil inventories at 11:00, completing an important day for the currency market. A market that started this 2013 is offering very good movements and, above all, very usable.
The material has been provided by Instaforex Company -
instaforex.comFor detail explanation and best discovery on market trends you may visit via
Fundamental Analysis For January 04, 2013 . Thanks for your support on Fundamental Analysis For January 04, 2013
