Congress Market

By news economics USD the recovery of the stock market and real estate market is detrimental to the dollar the U.S. currency yesterday continued its correction, given that the recovery of the stock market along with the economic publications that ended up surpassing expectations, drove many investors to invest in higher risk currencies. The EUR/USD pair was found under pressure during the day Japanese and European, and handed over during the greater part of the day. However, the pair failed to break the level of support in the area of the 1.3200, and subsequently reversed its trend. The appreciation of the couple came to pass when the stock market began to take profits.

The Dow Jones Industrial Average advanced 2.61%. In addition, the data published in the United States, namely, the Pending Home Sales managed to increase the appetite for risk. Figures that were unveiled exceeded by far the expectations, and several investors broke dollars accordingly. Is noteworthy that probably the fluctuations of yesterday They were exacerbated, since trading volume was low, especially for the holiday celebrated in Japan. It would be advisable to follow closely the evolution of the Aussie (AUD) and the zeelandic neo dollar (NZD).Two key events are expected for today.

The Institute for Supply Management (ISM) will release the Non-Manufacturing PMI. This indicator is key to analyze the economic situation in general. It is estimated that the result will show an improvement over the previous publication. On the other hand, the Fed Chairman, Ben Bernanke will give a speech on the Economic Outlook before the Economic Committee of the Congress. It can Bernanke emphasizing the economic improvement, and as a result the dollar may fall. It is estimated that the EUR/USD pair testeara the 1.3600 resistance zone during the day today. The euro EUR continues bullish correction the euro advanced during the last three trading sessions against the dollar.