Fundamental analysis
Gerardo Porras
The dollar strengthened on all fronts by averaging the European session on Wednesday, growing stronger against the euro, pound sterling and Swiss franc.The problems facing Europe, more precisely the states with financial problems to meet their sovereign debt, as well as doubts about maneuvers that would be carrying out some banks to "disguise" losses and present a positive number, print a downward force to the euro , who arrived 1 hour at its lowest since Oct. 10.
The euro area remains the center, with investor concerns about escalating plans for a new attempt to rescue Dexia, the Franco-Belgian bank to the brink of bankruptcy as a result of exposure to sovereign debt.
In turn, a negative German manufacturing PMI "helped" this new downward movement of the single currency.
Nevertheless, the stock of the old continent have no negative day: the DAX 30 in Germany grows above 2.5%, figures similar to the CAC 40 and FTSE 100. From there you can also explain the slight recovery experienced by the euro in the last hour.
In the U.S. session key data is expected on durable goods orders, which once generated great expectations among operators, which produced sharp movements. Although the impact that in recent months is somewhat devalued, the forecast is for growth of the orders of 0.1% in October, compared with 1.8% the previous period, subject to revision.
Also known reports of income and personal consumption, all at 8:30 Eastern. Meanwhile, at 9:55 will be the turn of the consumer confidence index from the University of Michigan / Reuters, and 10:30, the weekly inventory of oil.
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