FX.co ★ Fundamental Analysis, December, 13 / 2011

If European leaders believed that they meet and do a lot of ads, promises sanctions that are already planned for over 10 years and never met, and create commissions, corporations, chambers, equipment and other rubber stamps, would change the mood of the markets and going to restore confidence in them, on Monday had the answer.

The euro fell again, with European exchanges, accompanied by American stock markets, which of course do not believe that the EU summit last week to bring to fruition the sovereign debt crisis that bear much of the nations the old continent.

Be difficult to convince the markets with theoretical ads and no money in sight, and much more you will convince the various countries used to live with a very loose lifestyle to change their habits just because their government has wasted public money, with the approval of rating agencies now appear as severe, and advised banks to lend money at low rates.

You can not blame the banks, even if large part of responsibility, who are asked to pay, since it is their job. But it was clear that Greece or Portugal, or Ireland, could not afford the payments on the loans they took.

If it was not until now, and the summit has not left any positive conclusion as to goals of growth, exports, or creating jobs, why should change that in the future?

This interpretation is the one that markets, which in any event on Tuesday will have another focus: at 2:15 pm, ET the Fed will announce its monetary policy.

Unchanged interest rate view (the owner of his own Fed, Bernanke, canceled any possibility in this direction until within a year and a half), the expectation is to see that communicate the FOMC after the meeting that ends today .

The main macroeconomic indicators have improved markedly in the U.S. in recent months, beginning with the creation of employment, home sales and retail sales, and this is encouraging for the rest of the world.

Be seen, then, which is the view that the different governors of the Fed, whose words are usually very measures, but also very consistent with reality.

Also known in the U.S., although earlier, at 8:30, the number of retail sales, which could increase slightly from the October data.