Euro And The US Dollar

The euro showed a great strength against the dollar, consolidating for the past four sessions, while the major stock markets on both sides of the Atlantic continue to be supported clearances. Involved, the doubts become stronger on the strength of the recovery in the U.S.. Doubts acknowledged by Ben Bernanke himself.

The currency traders are at present a cautious approach to decision on interest rates in Euroland. If a status quo on the cost of money is massively anticipated, traders will pay attention to every detail of the speech of the President of the ECB could support the thesis of a rate hike at the next meeting of the Board of Governors month next.

Around 11.15am, the spot euro / dollar was worth approximately 1.4615. In New York, a barrel of U.S. light crude (light sweet crude) are treated at a price close to $ 101.20.

From a graphical perspective, a further consolidation before the speech of the President of the ECB is assumed by our team of analysts. No trade on the currency pair in the immediate future.

In this context, the team makes a neutral for the next few hours and offers dealers to stay out of the market in anticipation of future technical signs clear. However, we take care to note that a crossing of the voltage to 1.4700 revive the purchase of 1.4557 while a break would boost the selling pressure.

On the macroeconomic level, currency traders will take note of the decision on interest rates in the United Kingdom at 13.00 and at 13.45 euro zone. Three indicators of U.S. economic conditions are expected this afternoon: Registration for weekly unemployment benefits to 14.30, the trade balance at 14.30 and also wholesale inventories at 16:00.