FX.co ★ Fundamental Analysis, January 3, 2012

During the first working day of the year the new markets return to their normal condition on Tuesday, this greatly promotes the leading currencies and mostly the American dollar.

The dollar experienced weak trend during first hours of session and fell on all fronts, especially against the euro, the pound and the Swiss franc. The same thing happened to the Australian dollar and to the Canadian dollar.
The news about jobs in Germany, particularly the changes in number of people unemployed for December 2011, triggered the upward movement of the euro, which was accompanied by other major currencies.
Meanwhile, when averaging the European session on Tuesday, the stocks of the old continent showed mixed results. The DAX 30 gained 0.8%, while other major indices fell on the average by 0.6%.

As for the Dow Jones, the index futures were rising opening the week that has left an important gap and it will probably be covered within the next few hours, and at the American session.

Indeed, at 10:00 the publication of the ISM manufacturing in the United States is expected, and at 2:15 the Minutes of the last FOMC meeting, which took place last month, will be announced.