Europe shows some confidence since the morning before the release of durable goods orders in the United States.
The good news came today that the Swedish krona looking more and more traders . According to the National Institute of Economic Research, the index of consumer confidence rose from -3.2 to zero in a month versus the consensus of economists was counting on -2. As stated by SEB AG from its base in Stockholm, recent data from Sweden, and particularly the latter indicator, were overwhelmingly positive and constitute an important signal for investors to sell the euro and buy the crown. It is particularly recommended to buy the krona at current levels and to consider an assessment that could lead the currency to 8.65 per euro. This scenario would invalidate the other hand if the crown weakens to 8.98 per euro. Then it would be appropriate to withdraw from the market.
Furthermore, the optimism brought the currency of 17 to a higher one month against the dollar while the finance ministers of the euro zone must meet this week to two days of talks to increase capacity financial EFSF and MY . The last weekend, Chancellor Merkel has been more open to increased funding but still some resistance to overcome, particularly on the side of Finland.
For now, the euro is brought graphically, but it moves quickly to a resistance at 1.3487 with major media to 1.3300.The threshold of 1.35 to the euro still seems a distant and a bearish downturn is not excluded, especially if the situation in Spain continues to raise more concerns.
Unlike the euro, the pound has suffered a bad session, as we anticipated earlier this morning in our binary options advice , following the publication of figures for growth in the fourth quarter of the year past that were much worse than expected, with a decrease of 0.3%. The first estimate was a decrease of 0.2%. These poor figures have led to a fall of 0.2% of the GBP against the U.S. dollar to about 1.5917. Note that before the publication of these data, yesterday, the Governor of the BoE, Mervyn King had said he was open to all options whether more monetary stimulus or quantitative easing. It is becoming increasingly likely that the Bank of England will take steps to reorient upward growth across the Channel.
In Asia, not surprisingly, there is a strengthening of the Japanese currency as companies in the archipelago are repatriating their funds by the end of the fiscal year to be held March 31. It is expected from this perspective that the yen crosses the 84 level against the U.S. dollar.
The rest of the trading session will be mainly influenced by the durable goods orders overseas that should be a rebound in February by almost 3% according to the consensus. If this figure is confirmed, we can expect a renewed appetite for risk in Forex.
