Assessment of the foreign exchange market has become a more complex manner between fundamental and technical analysis. Over the three months period of the quarter the USD resiliency to maintain its upward trajectory has limited its momentum with the current corrective move to the present levels of where it settles towards the closing of the month's trading. Before going to these numbers, the surrounding issues that attracts equal importance are as follows; without having to go deeper to their explanations, because its speaks for itself. Here is the checklist as follows:
- Consumer & Investors confidence of the Global economy
- China & its forecast of a slow growth for the next coming years ( soft landing economy)
- Net effects on Commodity / Currency markets
- European debt crisis & US trade balance /deficits / Unemployment / Housing figures
- Increasing Oil Prices / Supply & demand factor correlation with the Precious metals
- Iran & Israel conflicts on top of the North Korean Issue
- Upcoming Presidential elections
A resumption of the major trend after the corrective move to the lower levels of 78.09/10 can only maintain whenever the US Dollar Index trades above the previous registered high of 81.80 basis point. With its current price of 79.15 as of this writing would have to have some serious back-up from this week's trade reports from both continents to push it higher. However, the current pace have continued the USD to move lower as the EURUSD & GBPUSD has kept its rally to move higher above their present resistance levels. And this is due to the improve business confidence in Germany beating market expectations.
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