Archive for January, 2013

It seems that many investors feel that the euro has turned a rather pivotal corner during this past week. The multinational currency finished off the week of the 21st at a ten month high in relation to the dollar.

This has been interpreted by many as a sign of a heightened sense of confidence in the European banking sector.

There are even rumours that we may see the euro currency test the 2012 resistance levels of $1.35 in the short-term. Nonetheless, the week ahead is of critical importance for the perceived strength of the euro.
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It seems that the new year has once again brought the bears out in regards to the latest online forex trading sentiment. The Euro has lost any previous gains made against the dollar due to a larger fall in European Union industrial output than previously predicted.

This statistical pullback is highlighted by the continued record-high unemployment in countries such as Spain and Greece. Although unemployment remains one of the most bearish economic barometers for the Euro, weak private sector output serves to further illustrate the fragile state of this multinational economy.
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Online Forex Trading investors will be buoyed by news that global markets have responded positively to the US fiscal agreement on the first trading day of 2013, as a last minute deal was struck by Congress to avert the so-called ‘fiscal cliff’.

In London the FTSE 100 surged beyond the 6000 level for the first time in over seventeen months with banks making some of the biggest gains, after similar improvements in the Asian markets earlier, with Hong Kong’s Hang Seng increasing by 2.9% to its highest level since June 2011.

Both the DAX and the CAC 40 also rallied positively to the news of the US deal. The Dow Jones was up by just over 2% at 10:15 EST.
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