Spain is about to collapse as the country was greatly affected by the European crisis debt. The German IFO was the lowest since June 2010. UK GDP plunged 0.7% which is equivalent to a recession that does not stop. And what about the market?
Yes, the markets have taken a break today. No good news from anywhere in truth, but European shares gained this afternoon more than 1.3% on average. The Dow Jones futures are rising right now, although the company’s data released on Tuesday was not good.
The markets are looking for reasons to leave the bearish wave that never ends, and any sign of encouragement used to return to shopping.
Now let’s examine the major currencies. Investors have put aside the dollar, and turned to ultra-safe assets until recently, and now the euro, the franc and the Canadian dollar appear to be at risk.
The single currency just filled the gap left by Monday's Asian session, and everything is given to continue its way upward in the coming hours, while the British pound, affected by the low UK GDP reading has failed to keep their way. Technically, however, divergences between the prices curve graphs GBP / USD 4-hour about the momentum indicator and RSI, which can anticipate an upward movement of the British currency.
The Australian dollar also fell to one hour amid the inflation data from Australia which is less than expected that is proving the recovery at the moment and looking to fill a gap left on Monday at 1.0370.
Higher oil prices, now stronger, also give strength to the Canadian dollar and the Mexican peso which fell sharply on Tuesday and now quickly regain.
Data for new home sales in the U.S., which will be announced at 10:00 Eastern Time can give new impetus to the Dow Jones, and accelerate the recovery of the European currencies in the upcoming hours.
Also oil inventories published at 10:30 should be taken into account when operating with their currencies pegged.
What about gold? It is very high, almost $ 1600 per ounce (the Aussie support in this instance). As for the yen, it is left to the side and slightly falls. Will this peaceful period last for longer? It sounds easy although Spain continues to provide bad news. But everything has an end and the crisis too.

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