Morning comment on the situation on EUR / USD
The head of the U.S. central bank (Fed) Ben Bernanke reviewed the night of Monday to Tuesday the role of periodic stress tests of the banking sector. According to Bernanke, the test unquestionable influence on the stability of the financial system since the crisis of 2009 is seeing major improvements. Analysts say the Fed chairman, in a speech tactically avoided the assessment of economic and monetary policy of the central bank, as the world awaited statement on Friday's weak performance of the labor market.
International creditors of Greece will meet with the local finance minister, amid fears of bank recapitalization. The plan to merge the largest Greek banks was stopped because it did not meet the criteria of solvency. Investors consider this a step towards nationalization.
Representatives of the European Union and the International Monetary Fund will visit Portugal and seek solutions to decrease government revenues. The visit comes after the Portuguese Constitutional Court vetoed the government's austerity program, which was a precondition for international financial assistance.
Germany in February for commodities exported the total € 88.7 billion and the domestic economy brought home the goods for 71.9 billion euros. According to the statistical office of export decreased by 2.8 percent and import as much as 5.9 percent on-month measurements. Trade balance Europe's largest economy showed a surplus of € 17.1 billion.
EUR / USD has been on the 4 hour chart trading above the moving average 100, which indicates a temporary superiority of bulls. Price yesterday managed to close above the downward trend line on the daily chart, which kept shoppers under wraps.Oscillators move in extremely overbought values, it can be expected correction back to Reviews Support 23.6 Fibonacci level.
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