By the end of the month we have seen some significant movements in the currency market but they were not fundamentally motivated. European currencies gained strength at 12pm ET on Thursday but lost strength before Friday's U.S. session. The euro overcame 1.29 again, but stopped, at least for now, below 1.2970. It will open the door to the next target of 1.3005.
The Swiss franc followed the path of the euro, although more attenuated. Meanwhile, the sterling is flat, but it seems it has no strength to continue an upward move. In fact, it has been losing positions rather quickly from the beginning of the today’s European session.
During the last session of the month, European shares appeared to have losses of medium intensity, reflecting pessimism.
Meanwhile, the Dow Jones index reached its lowest level since September 13, and the trend has been very bearish for the rest of the day.
During the American trading session, it is also likely to observe the leading currencies suffering setbacks.