EUR
The Euro is currently pretty much unchanged against the dollar having earlier climbed to 1.3798 after EU PMI manufacturing data improved to 52.7 in December (exp 51.9). The data was otherwise somewhat mixed and the positive momentum was not maintained as traders remain cautious ahead of Wednesdays FOMC meeting. The EU services PMI dropped to 51 (exp 51.5), while German PMI manufacturing rose more than expected to 54.2. The French data was disappointing with the manufacturing PMI falling to 47.1 while the services number fell to 47.4 against an expectation of 48.7.Further upside for the Euro was tempered somewhat after ECB President Mario Draghi, speaking before the European Parliament on Monday, pointed out the EU economy’s downside risk, and repeated that interest rates will stay low, if not lower, for the foreseeable future.
Negative sentiment towards the pound sterling exchange rate seems to increase after the Office for National Statistics ( Statistical Office of the UK ) report to the public that there is less encouraging signals in the production sector where the sector indicator weakened.
In Europe the movement of forex session this afternoon ( Tuesday, December 17, 2013, 09:43:27 GMT ), British Pound sterling exchange rate generally indicates downward movement against the U.S. dollar after opening at 167.84 in early trading (00:00 GMT), the currency has dropped about -13 pips or about -0.08 % and the news was revealed during rolling was observed in the value of 167.71.
Negative sentiment towards the pound sterling exchange rate seems to increase after the Office for National Statistics ( Statistical Office of the UK ) report to the public that there is less encouraging signals in the production sector where the sector indicator weakened.
The development is indicated by a decrease in the fundamental indicators PPI Input m / m which fell to -0.7 % rate of value in the previous period is -0.4 %. Unfavorable reports showed worse performance than the estimated number of economists, who predicted the numbers will only worsen to -0.5 %. Currency exchange rate of the UK pound sterling was observed to move down to respond to these developments.
USD
After moving down in yesterday's trading, the U.S. dollar today ( Tuesday, December 17, 2013, 09:31:22 GMT ) weakened against major currencies Japanese Yen. Opened at 103.02 in early trading ( 00:00 GMT ), the currency has weakened about - 8 pips or about -0.08 % and the value of rolling seemed to be in the range of 102.94.
The U.S. Dollar was observed to move towards the negative announcement Bureau of Economic Analysis ( U.S. ) regarding recent developments in international trade. Some economists expect a report to be published to show the progress that is not too encouraging.
Indicators of economic fundamentals Current Account is expected to mark the negative condition and could be expected to drop to - 101B from the previous period, namely - 99B. The U.S. dollar depreciated observed moving early to respond to these developments.
Daily forex fundamental analysis of the U.S. dollar exchange rate that the dollar - yen normal range is estimated to have a support level at 102.67 and resistance level at 103.31.
In general, the major patterns of long-term review, the USDJPY pair was likely to move a triangle pattern and consolidation. Technical indicators show a slowdown in momentum and enters the consolidation phase after the end of a bullish phase.
Overview on the minor pattern suggests that the USDJPY pair moving on Channelling Up pattern. Technical indicators show an increase in momentum and entered the middle phase of the bullish pattern.
JPYRubber price movement for today ( 17/12 ) observed a positive condition. Reinforcement that occurs in the Japanese stock market on today apparently a positive impact for the price of rubber. Moreover, the exchange rate of the yen against the dollar slipped back to a level of 103 per U.S. dollar boosting shares of exporters based primarily on the automotive sector which is the largest rubber consumer.
The other thing that drives the movement of rubber prices include a positive attitude is the conduct of the market ahead of the Fed meeting on the night that has one agenda to discuss the economic stimulus plan of U.S. policy endorsement.
Rubber futures prices rose by 1.1 % to 286.67 yen per kilogram, or 2782 dollars per metric ton on the Tokyo Commodity Exchange. Throughout this year the price of rubber has declined by 6.9 %.
For today's trading, futures rubber prices are expected to still more likely to experience a positive movement in line with the correction against the yen and also the speculation against the rising German economic sentiment data for the month of November, which will be released this afternoon.
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