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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.
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