The week began full of news, especially the good results in the U.S. unemployment rate last Friday, which remained stable at 9.7%, while in non-farm payrolls (Payrolls) increased by 162,000 jobs, the highest of the last three years. Furthermore, we observed that the Swiss franc has lost ground against the euro and the dollar, after rumors of a possible intervention by the Swiss National Bank (SNB) to stop the rally of the Swiss currency. Among other things, continuing political tensions between China and the United States due to the strengthening of the yuan. Repeatedly recall that U.S. President Barack Obama has asked his Chinese counterpart a softening of its currency with no response so far. For its part, the Treasury secretary, Timothy Geithner, decided early Sunday to postpone the publication of its report on exchange rate policy, which presumably certify that China manipulates its currency to keep it fixed to the dollar. Importantly, U.S. manufacturers say the yuan is overvalued by up to 40% and that this is one reason why there is the huge trade deficit.
Although the European market will be inactive in the meeting today, eyes will be across the ocean, highlighting the ISM non-manufacturing and pending home sales in the U.S.. » Read more: Euro lost positions against the Dollar