FX.co ★ Fundamental Analysis, September 21, 2011

Apparently, the Troika talks in Greece have been productive and encouraging. It is expected that the review of implementing austerity plans for Greece, now suspended, will resume next week. Thus, the Greek finance minister expressed confidence in getting the next tranche of the financing package so absolutely necessary, an event that has allowed collective breathe a sigh of relief to markets

Now that the possibility of risk in Greece is attenuated, the market's attention is directed to the meeting this afternoon in the CFMA, with most expected to enter a "shift in operations."

A two-day meeting of Federal Reserve policy-setting committee began yesterday and a monetary policy statement will be released after the meeting concludes today. Many expect the Fed will announce further measures to help a struggling economy, including changing the composition of your portfolio so it keeps the longer-term debt to reduce long-term interest rates. The ZEW Center for European Economic Research said its index of expectations of analysts and investors, is meant to predict the evolution of six months in advance will be reduced to less than 43.3 from 37.6 in August less. That's the lowest since December 2008. Economists expected a drop of less than 45.

The Swiss economy is showing increasing signs of slowing after expanding in the second quarter at the weakest pace since emerging from a recession in 2009. The central bank on September 15 reiterated its commitment to defend a ceiling of 1.20 franc against the euro to protect exports, while leaving borrowing costs at zero. According to reports yesterday, exports fell by 7% in August from the previous month, while imports increased 0.9% during the same period.