Despite the economic data from Germany released during the beginning of the European session, which was not entirely negative, the euro back gained some of its losses against the dollar.
The single currency failed to settle with a slightly downward trend within the short term charts on Tuesday and Friday because of strong resistance of 1.2440, and has already dropped nearly 80 points from that level.
The situation with the pound sterling is completely different. The British currency gained positions against the dollar since the beginning of European time, after the trend line on the 4 hour chart and then began a bullish rally heading towards that direction for the next hours.
It will be difficult for this dichotomy between the two major European currencies to remain for long.
For the rest of the coins, there are no major changes. The yen does not leave a very narrow price range, and only break of 77.90 would provide a greater momentum at the time when monetary policy is defined by the Bank of Japan.
The Australian dollar, which had lost power earlier during the day, demonstrated an upward trend, although it is still not defined yet. The break of 1.0580 will give new force to search your area within 1.0610 and above 1.0625.
The Canadian dollar could find a stop its upward movement in the area of 0.9950. Its upward trend heads towards depletion zone, and if we do not expect an immediate change of the course, USD / CAD price will lateralize without breaking the support. The data on the US oil inventories will move to the loonie.
On Wall Street investors expect a coordinated signal from central banks in order to solve the problem of European countries with sovereign debt problems. So far put it could result in stock grows.
There is no significant news from Europe. Germany sets conditions, the ECB analyzes them, and Spain and Italy do not accept these terms.
The BoE warned that further cut of interest rates will not be good for the moment, which explains the rise of the pound. But again, this data is not sufficient for the market which expects much more.

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