USD Index, EURUSD, USDJPY & Cross rates
The polarizing effects between the Fiscal Cliff and the Finance Ministers meeting over the European Debt crisis have managed the market to react with mixed sentiments along side with the overall market conditions and price behavior of the commodity market such as the oil and precious metals.
The polarizing effects between the Fiscal Cliff and the Finance Ministers meeting over the European Debt crisis have managed the market to react with mixed sentiments along side with the overall market conditions and price behavior of the commodity market such as the oil and precious metals.
In addition to France loosing it triple A rating have dampened investors sentiments in the Euro and the European stock markets in spite of the US stocks recovery from the past week. To top it all, the escalating conflict in Gaza and Israel have made oil prices recover from its lows; placing a constructive yet temporary barrier for the USD to continue its recovery despite of a better housing data and increase expectation in possibly avoiding a fallout from the Fiscal cliff.
On the contrary, except for the USDJPY re-taking its lead from the Bank of Japan while it takes a breather at the November monetary policy meeting which have led to its current weakness vs. the USD @81.25 to this writing to continue. However, some analyst have attributed this market movement to finally materialize since establishing its third (3rd) higher low @79.05 making a rising support channel quite supportive on its way up.
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