Forex Secret

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The euro stabilized against the dollar, the market catches its breath

The euro stabilized against the dollar on Thursday in a market again his breath a little after its surge yesterday, and. Opting for a wait time on the eve of the release of key monthly report on employment and unemployment, United States

At 10:20 GMT (11:20 in Paris), the euro bought $ 1.3562 from $ 1.3564 around 2200 GMT on Wednesday.

The euro stabilized against the Japanese currency to 123.46 yen against 123.54 yen late Wednesday.

The dollar was the balance against the Japanese currency to 91.03 yen from 91.05 yen yesterday.

For the last trading day traders opted for caution and made their accounts at the end of a busy month in the foreign exchange market, brokers noted.

Observed last term volatility in January markets, the Euro Wednesday $ 1.3587, its highest level since November 2011, driven by renewed optimism on the economic outlook for the euro area is The greenback was the announcement of an unexpected decline in the U.S. economy in the fourth quarter of 2012 affected.

"If the numbers (ADP employment in the U.S. private sector for January published Wednesday, ed) proved better than expected, they are still in the table of an economy that creates jobs at a pace slow" be careful feeding the dealer before the official numbers on Friday, noted Michael Hewson, analyst at CMC Markets.

Moreover, "the major currency pairs are now stuck in a narrow range, a typical movement on the eve of" this very important report to assess the strength of the recovery in the world's largest economy, said Adam Cole, an analyst at RBC.

Furthermore, like other financial markets, the Forex market. Little reaction to the announcement, the widely expected, the continuation of the great financial support from the Federal Reserve (Fed), the economy of the country

The Fed on Wednesday confirmed all its monetary policy measures designed to support the country's economy by maintaining its policy rate near zero and their purchases of financial assets amounting to $ 85 billion per month.

Its Monetary Policy Committee (FOMC) has estimated that. Economic growth for a few months off

According to analysts, the European single currency nor short-term confidence index of entrepreneurs and consumers in the monetary union, which has been improved again in January to be favored for the third consecutive month.

On the other hand, according to the European Commission, the prospects for employment are less pessimistic than in the past in all areas, in both the euro zone and the European Union.

For its part, the yen against the euro and the U.S. dollar Wednesday after falling to its lowest level since May 2010 or (¥ 123.86 per euro) and June 2010 (91.41 yen to the dollar stabilized), but was through the easing of monetary policy by the Central Bank of Japan (BoJ) weakened.

At 10:20 GMT, the British pound rose against the euro at 85.74 pence per euro, against the greenback at $ 1.5816.

The Swiss franc against the euro was stable at 1.2347 francs per euro against the greenback at 0.9104 Swiss francs to the dollar.

The ounce of gold was worth $ 1,674.40 against $ 1,677.50 late Wednesday.
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