Fundamental Analysis, December, 28 / 2011

The currency market movements remains largely in these hours, a stillness that has held since last Friday, on the eve of the feast of Christmas.

The major pairs have no definite trends in the short term, allowing a glimpse of intraday positions, and paradoxically, only the yen, which is the currency has moved less this year, which is providing some small rally, if bullish.

European stock markets operate with a 1% gain on average, just over the south, while Dow Jones futures are slightly bullish before the opening of the NYSE.

This pause that has taken the currency market is not free: usually, after them, are generated very strong movements that define medium-term trends. In principle, the dollar could benefit from the coming currency movements, given that the European currencies, particularly the euro and Swiss franc, still pointing downwards in the long term.

The two most important are related currencies, gold and oil, this time presented in an uneven performance. While the falls from $ 1600 an ounce and traded at $ 1585 at the time, tending slightly bearish in the short term, the WTI barrel exceeds $ 100, without much force pushing the Canadian dollar, but with little effect on other currencies bound by it, the Mexican peso, which has not been away from the 14 per dollar.

No economic data for the next hours, the expectation goes through the U.S. session opening, which can bring some movement to foreign exchange.