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01.12.2011 04:24 PM
Fundamental Analysis, December, 01 / 2011

On Wednesday, an agreement between six central banks, they have already taken important decisions against the yen in March and agreed that joint actions several times, went back into action.

Through this new agreement will run until mid-2013 a series of currency swaps between these entities, while refinancing debt agreed to continue to provide a sustainable exit to the crisis that European economies are embedded in the first place, and also the United States.

Also, during the European session, the People's Bank of China had cut the lace that banks should be deposited in the state, seeking to provide loans to individuals, and thus give dynamism to the local economy.

The other positive news of the day came from the hand of the ADP private survey, which showed employment growth well above that expected in November, which also generates optimism for the official data, due on Friday.

Earnings of European stock exchanges of New York and spread the good climate to foreign exchange. To advertisements, the euro, British pound, Swiss franc and the yen recovered quickly positions, bringing its short-term charts against the dollar in very bullish trends.

Logically, on closing the U.S. session, there were logical correction of a movement of this kind, without, however, changing the trends that had formed hours before.

The announcement of the central bank does not work, let alone the European crisis, but it does give some air to their leaders, who seem disoriented in recent days, making decisions and issuing advertisements then not carried out.

No significant developments during Thursday's Asian session, European stock markets seem to have appeased the euphoria of yesterday, and operate with losses of 0.5%.

In turn, presented the major currencies against the dollar disparate behaviors, greatly strengthened the euro area and looking again at 1.35 and the pound sterling also showing an upward trend in the short term. The currencies linked to commodities have a different perspective for the rest of the day. The Australian dollar and Canadian dollar not consolidating its upward trend on Wednesday, losing strength in the last hours.

In the U.S. session will be announced Thursday at 8:30 Eastern, weekly unemployment requests, and at 10:00 the ISM manufacturing, which are the interesting facts of the day.

InstaForex Analyst,
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