The Forex market offers excellent business opportunities to the publication of a battery of macroeconomic data that we know today in Europe and America. Among them stand the decision on interest rates from the European Central Bank (ECB) and Bank of England (BoE). Also, in the U.S., the most important data will be non-farm productivity, factory orders and initial unemployment Petitions February. So far, we have known that the Gross Domestic Product (GDP) Quarterly Euro Zone has grown at a slower pace in the fourth quarter of 2009 while the annualized rate in the old continent’s economy experienced a contraction at a lower rate , to settle at 2.1%, when the previous figure was 4.0%.
With regard to yesterday, has released the Beige Book Federal Reserve (FED). According to the Central Bank, the economic situation continued to improve in U.S. in January-February, but weakly. It also stressed that the activity was increased in nine of 12 regions of the country, albeit slowly. Meanwhile, we have also known that Australia’s trade balance has exceeded expectations, recording a deficit of 1.18 billion Australian dollars in January, while in December, was -2.2 billion. Without a doubt, is a factor which again confirms the recovery of the Australian economy.
In stock level, the uncertainty surrounding whether the measures published in Greece to cut the fiscal deficit will be sufficient Asia have weakened the flooring, which closed in the day with losses of close to 2%. In Europe, the old continent selective spread of the closing night and also operate in the red, like the future of the main indicators of Wall Street.
With regard to raw materials, despite the bad data in weekly petroleum inventories in the United States negotiated the black gold has picked up a barrel of West Texas (WTI) at 80.52 dollars on the New York Mercantile Chamber (NYMEX ). Since logging, oil is seen 0.4%, recording a daily maximum of 80.95 dollars. For the remainder of the session, investors believe that the raw material increase in risk aversion, the commodity could perform an intraday pullback to the support located at 79.90 dollars.
Finally, the Dollar Index (DXY) continues the trend started long days ago, currently operating at 80.05 points. Since the beginning of session, this indicator can be seen slightly, registering a peak in the day in 80.30 and a minimum at 79.94 points. Mindful that if the data of initial requests for unemployment exceeding expectations, DXY’s first reaction might be that of a pickup.