Currencies  |  December 11, 2012 11:07:28

Fed meeting weakening USD

Eurodollars during the Asian session continued strengthening. Euro helps mainly speculation of further easing monetary policy in the U.S., which will decide today and tomorrow Board (FOMC) of the U.S. central bank (Fed).
Investors eagerly expect the Fed after the operation Twist will buy government bonds worth $ 45 billion a month. Probably so bound to purchase mortgage bonds zkupuje each month in the amount of 40 billion. Dollar, this decision could bring the short term weakening against all major currencies.During today's meeting will also be published interest rates should remain unchanged, and the U.S. trade balance.
Political leaders in Washington continue negotiations on the budget for 2013 and want to avoid the automatic increase in taxes and spending humiliation worth 600 billion USD. President Barack Obama yesterday after the boss dohovořil Republican John Boehner announced that he is ready to deal.

Today at 11:00 will be published Germany ZEW Index

In 11 hours we will know the results of the German ZEW index, which reflects the views of experts on the economic situation in the largest euro area country and predicts the future development of the local economy. Bloomberg survey shows that the ZEW index remains in negative territory on the value of minus 11.5 and he should do better as compared to November 4 points.However, this would only result would confirm the expected recession in 2013.
The European Central Bank kept interest rates last week, a record low at 0.75 percent and the deposit rate to zero. Most politicians were open to further reduce interest rates and it is expected that in the new year we could not wait reduction.
"If the ZEW index falls less than expected, it almost certainly will reduce interest rates," said Masafumi Yamamoto today from Barclays.

Eurodollars and grew during the Asian session was maintained above the Fibonacci level of 23.6. Currently he is going to resistance 1.2970 (38.2 Fibo level). You will be very interesting as Eurodollars respond. In this area could create a price pattern head-shoulders and continue on sale. If the euro goes through without resistance problems may begin to strengthen again.Despite this, today will be safest to wait for the results of the ZEW index, and only then consider whether to enter the market.

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Zasedání Fedu oslabuje USD

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