Fundamental Analysis For October 25, 2012
2012-10-25 20:05:03 (читать в оригинале)
The Fed announcement was not so optimistic about monetary policy meeting which ended on Wednesday. The plans announced by the Chairman Bernanke during the previous meetings remain inalterable. Perhaps key economic variables of the U.S. economy are beginning to provide positive figures.
It is proved as durable goods orders in September experienced the significant improvement. It is due to its high value; it grew 2%, much higher than expected by analysts sector. At the same time, the Weekly unemployment claims declined slightly, remaining almost in line with expectations.
But the day was in optimistic mood as UK's GDP finally seems to emerge from the recession that was attacking for several quarters. The preliminary measurement of the third quarter of the year showed an increase of 1%, modest, but enough to give the sterling a strong bullish momentum, which was mostly in its crosses against the euro and the yen.
The decline in the yen against the dollar (reached its minimum of four months, exceeding the benchmark of 80 units) gave the cross GBP/JPY strong upward movement.
The euro, however, fails to fully stabilize. It surpassed early in the European session near 1.30, but failed to reach 1.3030. Hera a new low began; it may extend to the American session.
It seems that the other leading currencies gain new strength against the dollar, although, some noticeable signs of exhaustion in bullish rallies crossings AUD/USD and NZD/USD are observed. It could suffer downward corrections in the coming hours.
Of course, it depends on the behavior of the shares on NYSE. For now, the Dow Jones index futures do not provide clear signals, although, it maintains a bearish bias ruling on a base 12,960 points, which would break a trend change in the medium term. It seems, however, that it happens today.
The material has been provided by Instaforex Company - instaforex.com
