empty
 
 
04.01.2013 06:09 PM
Fundamental Analysis For January 04, 2013

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.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback