Technical analysis of forex 08/12/2011

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Best Forex Brokers
– December 8, 2011Posted in: Forex News
 
USD-CHF Timothy Geithner, U.S. Treasury Secretary, expressed confidence in the efforts of Nicolas Sarkozy and Angela Merkel to build a strong fiscal union in Europe. Hopefully this will affect confidence in the markets and the U.S. will succeed too out of the economic and financial situation in which they are located. The USD / CHF has been very low volatility during the last 24 hours, with a range between 0.9224 and 0.9288. For Thursday, we could see the movement of larger meetings with the ECB and the BoE.
EUR-USD Loans from the ECB to 34 European banks amounted to 50.7 billion euros for a period of 84 days, while last month the amount of loans to these banks amounted to 395 million … The German auction took place without complications, which is reassuring before the meeting of the ECB, which should lower its interest rates by 0.25% today. The EUR / USD failed to hold up after the night from 1.3454 to 1.3351. It seems that Americans are Asian buyers and sellers of the euro … For this meeting, the channel fluctuations may be wider than in previous sessions.
USD-JPY Japanese trade balance showed a deficit of -206.1 billion yen for the month of October, orders for machinery fell by -6.9% m / m (against 1.5% year / year and nine , 6% expected!), and the number of bankruptcies is displayed up +3.2% m / m. Foreign purchases by Japanese grants increased by JPY 59.0 billion and those in Japanese bonds declined -222.4 billion yen. All these figures have not altered the quotations the USD / JPY, which remained in the channel of 77.60-77.79. Expectations of different foreign exchange experts are also very volatile, with forecasts of over 77 in one month, 78 in 6 months and 80 to 12 months. The EUR / JPY cross has again followed the EUR / USD, with a decline of 104.53 to 103.78. We remain neutral as to the USD / JPY. As for the cross, his career will depend on the evolution of the euro.
EUR-CHF A spokesman for the Swiss Finance Minister Evelyne Widmer-Schlumpf said a task force studying how to counter an off the Swiss franc if the European crisis would worsen. The solutions may correspond to negative rates or control of capital movements, although these solutions do not offer guarantees. Predictions of various experts for cross EUR / CHF are: 1.23 in one month, 1.2400 and 1.2500 in 6 months in 12 months. The cross EUR / CHF fell slightly yesterday from 1.2443 to 1.2380, thus following the evolution of other parities with the euro. For this important day, we give the channel 1.2300-1.2425.
GBP -USD The meeting of the BoE will it lead to a change in UK monetary policy?Interest rates should remain at 0.5%, but on quantitative easing (QE), a change in the money allocated could be true. Industrial production and manufacturing (see above) was extremely disappointing, as the figures of the real estate market still anemic. Despite this bad news, the Cable has appreciated sharply in the late afternoon, from 1.5595 to 1.5726! A British bank had bought for £ 3 mias transaction between Vedanta and Cairn Cleared. The cross EUR / GBP has meanwhile fell sharply to 0.8511 from 0.8613.

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