OPEC Euro

OPEC Euro

The European currency reached values not recorded a week ago, stood at 1.3300 against the dollar, while that against the pound reached a 0.9100 level. The question on foot now is if the euro staying at these levels or not.It is noteworthy that the PMI data surprised with force. Figures who managed to give the euro a boost toward the end of the week. Expedia often says this. He also joined this bullish trend the result of the Ifo Business Climate German, where hinted that the European economy reportedly would have already bottomed out and will now begin the road to recovery.This week it will be calm in terms of economic indicators, and estimated that while economic indicators continue to surprise, will the euro continue rising as it did last week. However, be aware that the road to economic recovery will be long, and the euro might be affected again. It can the euro be corrected down this week. JPY recent yen gains could fade the yen managed to advance during the past week, after taking gains against most currencies, especially against the dollar. However, the Nikkei opened low this week, and is for this reason that all the points taken by the yen could vanish.

Against the dollar it had reached the 96.65, while against the euro stood at the 127.50. No doubt the yen could suffer a correction, particularly by the negative data from the Japanese stock market square.However, with the recent fear of swine fever within the United States, the yen was taken points as a refuge currency, given that it is estimated that tourism in the United States could drop severely. However this does not seem to be sufficient, given that several analysts estimate that the yen fall against the majority of currencies this week, especially considering the delicate economic situation on the island. Oil plan OPEC new production cuts? Crude oil failed to break the resistance level in the area of $52 last week, and now, the oil seems to be again in baja.


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