Following the 8.7% recorded in February, the Euro zone continues to show signs of decay. On the other hand, inflation data are still minimal, registering 0.6% compared to April last year. On May 7 the ECB and try to handle an estimated inflation rate of 2% in addition to reducing interest rates to a potential level of 1.0%. The pound, on the other hand, showed no major changes to the dollar and closed at $ 1.4783. For the third consecutive month, consumer confidence in Britain recorded a rise. Slowly from the lows recorded during the summer, confidence seems to return to the market, so communicated the GfK NOP.
JPY – The yen minimum of two weeks ago the BCJ As expected unchanged interest rates and reduced its growth forecast for fiscal year 2009, while Japan’s export sector continues to suffer the effects of global crisis . It is noteworthy that the estimated BCJ said the other major economies could begin to rebound by midyear. The yen fell against most currencies except the dollar new Zea-lander, as several investors bet the strategy by differentials in interest rates. Japan’s currency fell 0.6% to 130.42 against the euro, compared to the 129.61 recorded yesterday. The yen also fell 1% to 98.72 against the dollar. Oil – Caen oil reserves while estimated an economic outlook on Thursday, advanced oil reaching $ 50.92 a barrel. Oracle is actively involved in the matter. Recall that the oil was questioned by the swine flu, given the doubts that generated demand for the commodity, especially for the fall in international tourism and the worsening global economic situation. Apparently an economic recovery would happen quickly, and the United States is already showing signs of improvement, as it was yesterday with the publication of unemployment benefits.
This phenomenon was a positive trade in the stock market and helped oil. However, the swine flu remains concerned, and Mexico is in a very difficult situation to deal with this phenomenon. No doubt this fear will cause a drop in tourism, and various sectors will be affected. Technical News EUR / USD The hourly chart, the RSI is in excess purchases, so that a downward correction would be imminent. The daily chart by Momentum supports this notion. When the breakdown happens bearish in the short go will be the successful. GBP / USD The 4 hour chart shows the RSI in neutral territory. However, in the slow stochastic hourly chart shows a bullish formation possible. It would be advisable to wait until that happens upward correction. USD / JPY The upward trend loses force and torque seems to consolidate in 98.80. In the 4 hour chart the RSI is in excess of purchases, so that a downward correction would be imminent. When the break happens bearish in the short go will be the successful. USD / CHF The pair continues to trade within a narrow range, and currently is around 1.1390. The 4 hour chart shows the slow stochastic indicating a possible downgrade. When the break happens bearish in the short go will be the successful. The letter of the day Gold Gold is down again, and now trades on $ 885 per ounce. In the daily chart, the Slow Stochastic is showing signs upside. This phenomenon could be exploited by investors to enter with the trend.