Fundamental Analysis, December, 15 / 2011

Fundamental analysis

Gerardo Porras

The upward thrust of the dollar seems to have found at least temporary shelter in the last hours, and European currencies catching up slowly.

While the monetary policy announcement by the Swiss National Bank gave strength to the franc, which rose nearly 100 points not only against the dollar but also against the euro, raw materials changed its course downward in recent days, and gave impetus to their currencies pegged.

Thus, the Australian dollar, which offered almost no movement and was anchored at 0.9890 throughout the Asian session, recovered quickly positions this time, the Canadian dollar and slowing its fall had led him to 1.0420 during the Wednesday.

However, these corrections seem, for now, be accepted as circumstantial as a profit-taking after the strong movements of the early days of the week.
The main reference currency market, the euro, the final hours played at its lowest for more than 11 months against the dollar, in a bearish rally, as stated above, it loses strength at the moment, but everything suggests that it is a "rest" and then continue his journey in the same direction.

A large number of reports give rhythm to the U.S. session, the usual weekly jobless requests on Thursdays, at 8:30 Eastern, today joined the wholesale inflation rate, at the same time, the account balance current, and the New York manufacturing index. At 9:15 will be the turn of the industrial production index and capacity utilization, and 10:00, the index of the Philadelphia Fed.

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