forex Released today a set of news about central banks, which decided the Swiss central bank in monetary policy meeting today to leave interest rates unchanged at 0%, and most importantly, is the decision to stay on the base of the EUR / CHF at 1.20 unchanged, contrary to market expectations lifting of this rule to 1.25. forex
It is likely that the Swiss bank does not want to go into at this time in the case of the protection of the franc at the time I arrived in the debt crisis in the euro area to the curve risk, which may be of any attempts by him to protect the franc at the expense of the euro reason to reduce the chances of escape from this crisis . And although the Swiss bank wants to weaken the Swiss franc, but he also wants to maintain its credibility and therefore it will wait first, even driving the market franc and then decide as it deemed appropriate, where the bank stressed its readiness to take necessary action to protect the economy and prevent deflationary risks from spreading it. The Swiss bank said that inflationary pressures may weaken for some time and that the consumer price index is located in the negative territory since October. As long as deflation risks close to the Swiss economy, it is likely to raise the base of the EUR / CHF over the medium term.
The reaction in the forex market to take no action today from the Swiss bank, down EUR / CHF sharply above the moving average for the fiftieth day after this economic news. And find the EUR / CHF at 1.2250 some support, followed by the 1.2200, a simple moving average of two hundred days.
Purchasing managers' indices in the euro area on the strength of a sudden during the month of December. But despite record high, but these indicators are still at levels that indicate recession.The purchasing managers' index rose composite of 47 to 47.9.This is supported by the improvement in the reading of this indicator point of view which tend to decrease the likelihood of production sharply in the fourth quarter of 2011. Most analysts expect to enter the euro zone in the phase of the recession, predictions indicate that the rate of economic growth in the euro zone during the fourth quarter of 2011 and the first quarter of 2011 rate will be negative. It is worth mentioning that the economy in the euro area faces a strong anti-wind in the form of continued financial distress and the failure of the banking sector, which put pressure on investment and personal consumption in the region.
Overall, despite the positive data that came from the strong euro area over this week, but this is not enough to weaken the bearish tone of the assets based on the euro. By observing the movement of European stock, we have seen today the opening of the slight rise it, and the continued fluctuation of the euro on the level of 1.30, and therefore we believe it will use any force for the European currency to take advantage of this sale, and we expect that the extended decline of the euro in the coming days to 1.2860 (the level of support is at 100% correction level for the movement of the rise to the level of 1.4940 at the beginning of May). In the near future, working as a level of 1.2960 key support.Among other economic data from the euro zone, the index of consumer prices of the euro area for the month of November recorded a rate of 3% as it was unexpected to him.
On the other hand, the British retail sales fell last month, more than expected, adding to the fog of the economic picture in Britain. British sales fell in November by 0.4%, and after excluding cars recorded a decrease of 0.7%, which indicates a lack of enthusiasm of consumers to buy into the holiday season.But with expectations of a slowdown in retail sales in the Christmas season, it tends vendors to develop additional discounts on their goods in an attempt to attract buyers.
The Bank of England today announced a decline in inflationary expectations, thus confirming the expectations of lower inflation sharply next year, which increases the likelihood of a British bank in more quantitative easing through the first quarter of 2012.
Wrote on December 15, 2011 16:41 by shimaThis entry was written in the classification of global economic news. Permanent Link Add to Favorites.
It is likely that the Swiss bank does not want to go into at this time in the case of the protection of the franc at the time I arrived in the debt crisis in the euro area to the curve risk, which may be of any attempts by him to protect the franc at the expense of the euro reason to reduce the chances of escape from this crisis . And although the Swiss bank wants to weaken the Swiss franc, but he also wants to maintain its credibility and therefore it will wait first, even driving the market franc and then decide as it deemed appropriate, where the bank stressed its readiness to take necessary action to protect the economy and prevent deflationary risks from spreading it. The Swiss bank said that inflationary pressures may weaken for some time and that the consumer price index is located in the negative territory since October. As long as deflation risks close to the Swiss economy, it is likely to raise the base of the EUR / CHF over the medium term.
The reaction in the forex market to take no action today from the Swiss bank, down EUR / CHF sharply above the moving average for the fiftieth day after this economic news. And find the EUR / CHF at 1.2250 some support, followed by the 1.2200, a simple moving average of two hundred days.
Purchasing managers' indices in the euro area on the strength of a sudden during the month of December. But despite record high, but these indicators are still at levels that indicate recession.The purchasing managers' index rose composite of 47 to 47.9.This is supported by the improvement in the reading of this indicator point of view which tend to decrease the likelihood of production sharply in the fourth quarter of 2011. Most analysts expect to enter the euro zone in the phase of the recession, predictions indicate that the rate of economic growth in the euro zone during the fourth quarter of 2011 and the first quarter of 2011 rate will be negative. It is worth mentioning that the economy in the euro area faces a strong anti-wind in the form of continued financial distress and the failure of the banking sector, which put pressure on investment and personal consumption in the region.
Overall, despite the positive data that came from the strong euro area over this week, but this is not enough to weaken the bearish tone of the assets based on the euro. By observing the movement of European stock, we have seen today the opening of the slight rise it, and the continued fluctuation of the euro on the level of 1.30, and therefore we believe it will use any force for the European currency to take advantage of this sale, and we expect that the extended decline of the euro in the coming days to 1.2860 (the level of support is at 100% correction level for the movement of the rise to the level of 1.4940 at the beginning of May). In the near future, working as a level of 1.2960 key support.Among other economic data from the euro zone, the index of consumer prices of the euro area for the month of November recorded a rate of 3% as it was unexpected to him.
On the other hand, the British retail sales fell last month, more than expected, adding to the fog of the economic picture in Britain. British sales fell in November by 0.4%, and after excluding cars recorded a decrease of 0.7%, which indicates a lack of enthusiasm of consumers to buy into the holiday season.But with expectations of a slowdown in retail sales in the Christmas season, it tends vendors to develop additional discounts on their goods in an attempt to attract buyers.
The Bank of England today announced a decline in inflationary expectations, thus confirming the expectations of lower inflation sharply next year, which increases the likelihood of a British bank in more quantitative easing through the first quarter of 2012.
Wrote on December 15, 2011 16:41 by shimaThis entry was written in the classification of global economic news. Permanent Link Add to Favorites.
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