Markets  |  February 21, 2013 08:35:00

EUR / USD decides their fate

Minutes of the Bank Committee (FOMC) of the U.S. central bank (Fed) showed heterogeneity of opinion on the future of monetary policy. Committee members can not agree on a program of buying government bonds. He has since last summer fueled the growth of equity markets. Some members would like to see him at the end. FED 30th January 2013 announced that it will continue to buy bonds totaling 85 billion. But the Americans did not report how long this operation will take place, merely specified that first there must be a significant improvement on the labor market. In case of termination of the program of quantitative easing could come under pressure-sensitive titles on the development of the economic cycle (banks, industrial firms), fearing that the withdrawal of stimulus measures by the Fed could hamper global economic growth. Again could arise from the rotation into cyclicals defensive.

Above program is already, but slowly pulling clouds some members of the FOMC are concerned about the risks and financial costs of quantitative easing. Minutes from the Fed's last monetary meeting on Wednesday evening revealed that many members of the board believes that the central bank should slow down or stop buying bonds before they see the recovery job growth, which is the purpose of this program. Following the publication of the minutes of the last meeting of the Fed jumped volatility index, an indicator of fear of U.S. investors, to 19.3 percent - the highest in a single day since November 2011.

EUR / USD after almost two months, again approached the rising trend line on the daily chart. She managed the couple in the past on several occasions to help. Eurodollars yesterday finally received strong sales and more difficult situation now facing the bulls.To further increase will be needed to overcome the resistance of 1.33 and 1.34, would be able to help bullish hidden divergence in the oscillator. In case of a negative scenario remains closest Fibonacci support level between 38.2 and 1311 price.

Today we would when trading the currency pair EUR / USD not miss these dates:

EUROZONE - Purchasing Managers' Index (PMI) in the industry and services sectors in February, provisional, at 9:58.
MADRID - Spanish bond auctions.
USA - Consumer Price Index (CPI) for January at 14:30.
U.S. - Weekly applications for unemployment benefits at 14:30
USA - The Purchasing Managers' Index (PMI) in the industry in February, according to preliminary research firm Markit, in 14:58.
USA - Sales of existing homes in January at 16:00.
USA - Index prům.aktivity Philadelphia area in December at 16:00
USA - Leading indicators for January at 16:00.

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