The FOMC minutes brought no surprises | IFCM Hong Kong
IFC Markets Online CFD Broker

The FOMC minutes brought no surprises - 16.2.2012

US dollar The U.S. currency  strengthened during the day and came close to the level 80 against a bunch of currencies (current value - 79.82). U.S. reports were painting a mixed picture. Business activity in the manufacturing industry in New York showed the sharp appreciation, but a report on the volume of industrial production showed zero growth. The TIC data confirmed the increase in demand for U.S. currency as a whole, but also reflected decrease in long-term investments. The FOMC minutes brought no surprises: the market could not find even a single hint of more positive attitude of the Fed, than it was in Bernanke’s speech. Thus, the U.S. currency has not received any additional support, that would affected the dynamics of the pair USD / JPY, which has not been able to break through the Y78.60, and retreated to the Y78.20. Euro The reasons for the the Euro weakening on the surface - a confrontation between loaners, government officials of the Euro zone and Greece, has an impact on the Eurocurrency, besides delaying  the assistance package payment  to the moment of the Greek elections in April could be a problem, since the maturity on the debt is assigned on March. The GDP for Germany and the Euro zone as a whole, published during the day, had a little influence on the currency. However, growth rates in the largest economic system E-17 give hope that the region will avoid a recession. As soon as the Greek problems recede into the background, such data will support the single currency. Australian dollar The Australian dollar has reacted positively to the labor market data published in January. During the first month of this year, the Australian economy, according to statistics, has created 46,300 new jobs, while economists had expected an average increase (only 10000 jobs). The data for December were revised downward. According to the data that have come out after the audit in December 2011 Australia's economy had lost 35,600 jobs, not 29,300 jobs, as it was reported in the first reading. The unemployment level for January was unexpectedly 5.1%decreased. It was  5.2% in December. Economists had expected 0.1% unemployment increase  in January  compared with the previous month.
IFCM Trading Academy - New era in Forex education
Pass Your Course:
  • Get Certificate
trading academy

See Also

image
Follow the Market with Our Live Tools and Calendars
Close support
Call to Skype Call to WhatsApp Call to telegram Call Back Call to messenger