Fundamental Analysis For October 31, 2012
2012-10-31 19:57:05 (читать в оригинале)
U.S. markets were closed on Monday, and the opening date can bring important developments in the major equity prices. In its turn, it could lead to strong variations in the leading currencies.
The euro, less than an hour of the opening of the NYSE, regains strength against the dollar, and just surpassed 1.30, looking for his next goal, which came earlier at 1.3020. The 1.2967 level was the trigger for this move higher, which may extend into the U.S. session.
A similar movement provides the pound; it reached 1.6135 against the dollar, which met resistance in a downtrend line. If the rate overcomes it, then it will open the door to the area of 1.62 and 1.63.
The other currencies have remained without major changes in the past few hours, there is no news to influence the situation.
The unemployment rate in the eurozone data has been realized today; it stands at 11.6%. But it is in line with estimates by analysts polled earlier.
In Canada, presented monthly basis GDP down 0.1%, which led to a slight decrease of the loonie. However, only break of 1.0020, which did not exceed the previous day, could extend the fall of the Canadian currency.
For the American session, it is expected the Chicago PMI, at 9:45 Eastern, and oil inventories at 10:30.
Furthermore, great care with the opening of the American session. After two days closure, the first moves will be downright unpredictable. The following should be taken into account: the Dow Jones index futures recovers quickly positions at these times, and away from their lows on Friday and Monday.
The material has been provided by Instaforex Company - instaforex.com
