Currencies  |  January 17, 2013 10:03:15

EUR / USD afternoon waiting for data from the U.S. Beige Book said Americans optimistic

The U.S. central bank (Fed) yesterday released its Beige Book, which assesses the state of the U.S. economy. According to the Federal Reserve, the economy begins to flourish. This is due mainly increase in sales of cars and houses. Economic activity since publication of the last Beige Book (28 November 2012) increased in all 12 regions, which are signed by the faster growth of the economy.

Beige Book is being prepared for the Bank Central Bank committee (FOMC), which will meet on 29th and 30 January. At the meeting, the FOMC is expected to further political struggle to continue buying government bonds for 85 billion U.S. dollars.The head of the National Bank of Dallas, Richard Fisher yesterday criticized his colleagues who support these stimuli. According to Fisher, the effectiveness of stimulating the economy slowly loses and today's purchase of bonds with time will have less and less influence to help the economy.

Regions of New York and Philadelphia turned up after the storm and according to Sandy yesterday's news to them very successful. Boston, Richmond and Atlanta have problems with growth, yet the economy remains in a moderate expansion. The situation on the labor market in any region has not improved significantly.

Spanish bond auction

In Spain today, the auction 2 and 5-year bonds. Spain expects strong demand and thus lower revenues (financing costs) of its bonds.Investors, according to Spain to improve his view of the southern countries of Europe and should be no problem. The Ministry of Finance plans to sell bonds worth 4.5 billion euros with a maturity of up to 2015.2018 and 2041st

If the lead Spain to sell everything in today's auction, so filled with 9 percent of the overall plan for 2013. Spanish refinancing costs last year for 10-year bonds fell by more than 2 percent after the European Central Bank promised to problematic countries to sell bonds in order to protect the European currency. Yields of these bonds on Wednesday was around 5 percent.

Eurodollars yesterday to get more movement, as if waiting for the market today. The hour chart between Fibonacci levels created strong "range" zone. Traders are now watching, where there is a breakdown.Today's market could galvanize the news from the U.S., where it will be published at 14:30 number of new applications for unemployment benefits and the number of new building permits.

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