30.03.201217:25 Forex Analysis & Reviews: Fundamental Analysis, for March 30, 2012

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The meeting of the finance ministers of Europe that decided to extend bailout funds to economies in need boosted the movement at the stock exchanges of the continent.

These events resulted in the new upward movement of the euro which once again exceeded the point 1.33, though its speed turned to be bullish just before midday in Europe.

Moreover, a strong recovery of major currencies at the New York Stock Exchange on Thursday seemed to compensate the results of the U.S. session.

Unlike the recovery of the euro and British pound which remains much stronger against other currencies (mostly against the dollar) against the dollar than its rivals, the Australian dollar and Swiss franc do not look sustainable in the long-term perspective. However, it seems that profit-taking has come to an end of the month, especially in a period when maturing futures contracts generate some turbulence on all markets.

The yen was experiencing the same and is presently stable against the dollar reaching the support level of figure 82. On the 4 hour chart we can see that the rate of the USD / JPY is within a strong downtrend.

Concerning today’s news it is necessary to mention the data on Canada's GDP released at 8:30 Eastern, just at the same time with the figures on United States income and personal consumption. Also at 9:45 was released the news about Chicago PMI. Finally at 9:55 was released the information on the consumer confidence index published by the University of Michigan and Reuters.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.