Markets  |  February 27, 2013 14:50:00

Afternoon Analysis EUR / USD

Italian borrowing costs have grown to the highest value in the last four months. In today's auction of 10-year bonds reflected fears about the future of Italy, which currently addresses the electoral stalemate. Italians have finally managed to sell bonds for the planned amount of € 4 billion. Bond yields since the last auction covered with a half-percent to 4.83 percent, the most since October 2012. But keep the psychologically important threshold of 5 percent. Revenues reached high values ??of 6.19 percent in June 2012, before the European Central Bank pledged to help countries in the eurozone bond purchase. The ratio demanded and allocated bonds reached 1.65, which indicates a solid demand for long-term Italian debt. Italy has also issued bonds with a maturity of 5 years, which amounted to yield 3.59 percent from 2.94 percent a month ago.

The volume of goods, durable goods orders outside the transport sector (Core Durable Goods Orders) increased in the U.S. in mom measurement of 1.9 percent, indicating increasing power production. This represents the highest increase since December 2011. Economists were expecting growth of only 0.3 percent. This follows January to December, when we saw 1 percentage growth, suggesting inner strength activities at U.S. factories.

However, the total volume of durable goods orders (Durable Goods Orders) with a minimum shelf life of three years, scandalized by 5.2 percent month on month. It is mainly due to reduced demand for civil and military aircraft. Orders are then dropped in January for the first time since August 2012.

EUR / USD is held in the afternoon in notional consolidation. On the hourly charts we see no significant movement, so marketers can prepare to pierce the displayed rectangle. The oscillators are overbought range close values, which confirms the current bearish trend. Significant downward movement could come after puncture Reviews Support 1.3020.

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