FX.co ★ Fundamental Analysis, December, 20 / 2011

The announcement of the agreement of the finance ministers of the euro area, which provided a loan to the IMF to 150 billion euros to fight against the current financial crisis, has been well taken by the markets.

This explains the dollar's decline on all fronts, which is also marked by some of the major currencies, benefiting from macro local reports.

Such is the case of the Australian dollar. The Reserve Bank of Australia said he was optimistic of the minutes of the last meeting on December 6, and spoke of strong growth. The Australian has responded accordingly, with the support of the rise of an ounce of gold, which again exceeds $ 1 600.

In addition, an unexpected growth in the German IFO index, which marks the business climate in the country, gave further impetus to the euro, which has been delayed, however, the British pound. The British currency area definitely exceeded 1.56 in the final hours.

It's a minor detail IFO survey. In addition to continuing to be the main reference for the measurement of the economic environment in Germany, which of course will most European countries, the figure shows that the continent's largest economy fails or the difficulties of their Southern partners.

This results, then, the euro exchange rate, which in similar circumstances, with a debt downgrade of countries and banks, may even be less than 1.20.

For now, this state of affairs is headed by a relatively calm year-end foreign exchange market, with indicators that have at least stopped getting worse this month, and the U.S. economy shows signs strong recovery.

Precisely at 8:30 Eastern, permits will be available and starts in November. The figures would be similar to the previous month, so it would not generate significant impacts on the currency.

A few hours after the opening of the NYSE, the Dow Jones index futures recover losses Monday, and short-term chart shows a slight upward trend. European shares, meanwhile, operating income of 1.5% on average, completing two consecutive days of strong earnings, something unusual in recent times.