Markets  |  February 07, 2013 14:35:00

EUR / USD has been under pressure

The European Central Bank (ECB) left its key interest rate unchanged at 0.75 percent. Monetary policy remains the same as that in the UK unchanged. ECB still waiting to see how the economy will develop a common monetary union in 2013. The strong euro, which grows in the new year against all major currencies, especially troubled French President François Hollande. Ten on Tuesday called for a common exchange rate policy, to reduce irrational movements of the European currency.

The ECB has set a price target above which the value of the euro would not climb. On the other hand, stronger euro may slow recovery in the euro area economy and delay the debate to end crisis monetary policy measures by the ECB. The interest rate remains unchanged for 7 months and deposits rate will also hold at 0 percent.

Mari Draghi at a press conference today and said: "Economic activity in the euro area should gradually recover this year, but the risk is more negative than positive." He added that: "The economic weakness of the euro area probably in early 2013 will prevail."

Corruption scandal in Spain continues to influence the uncertainty in the markets and the state of its economy. Borrowing costs continue to rise, which was seen on Thursday's bond auction. The sale was successful, however, and investor interest in the country still remains. The Spanish Treasury sold bonds maturing in 2015, 2018 and 2029th

The total amount of bonds sold amounted to € 4.6 billion, which was even a little more than planned and the demand for bonds and fade-resistant. Strong trend raised in January, when there was a decrease in short-term bond yields to 10-month lows.This year's plan to sell government bonds in Spain yet met the 18 percent. Traders Only fear of political instability, which is strongly shaken by the ongoing corruption scandal, which dates back to the Prime Minister Marian Rajoyovi.

Weekly applications for unemployment benefits in the U.S. from last week fell by 5,000 on the season adjusted 366,000 new claims last week. Analysts had expected a figure slightly better, at 361 000th Data from the previous week were revised to 371,000 from the original 368 000th

The number of applications was in the month of January very volatile, and because of public holidays and vacations. Analysts from the U.S. Department of Labor today regarded as the result of something unusual and a smaller decline than had been expected, given the market conditions.4-week moving average of measuring the number of applications for unemployment benefits fell by 2,250 to 350,500 applications. Americans receiving long-term state aid increased by 8,000 to 3.22 million in the week to 26 January.

Eurodollars responds to today's events weakening. Broke through the trend line and going to the Fibonacci levels of 50, which in recent days acted as a strong support. Penetration of this layer along with the support of at least 1.34 may result in a short-term bear trend.

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