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| Euro/Usd chart at Australian Open Market |
Euro Print Longest Period Monthly Increase. The euro managed to score the sixth monthly increase versus the U.S. dollar, the longest streak of monthly increase in nearly a decade, as signs of economic recovery Eurozone deliver currency on a bullish trend. Weak German retail sales data released Thursday could undermine bullish euro sentiment, although then it can be treated by a solid German employment data. Euro short-term target lies at $ 1.3640 next, 15 November 2011 highs. "Overall the recent trend will continue. Potential Euro pushed higher," said Nick Bennenbroek, head of currency strategy at Wells Fargo Bank in New York.
Sterling Vulnerable to Economic Concerns UK
Sterling moved away from its lows against the greenback after a few months of house price data that exceeds expectations spur purchases of the British currency. But Sterling is still vulnerable to concerns about the UK economy. Investors' focus will be on the next UK manufacturing PMI data will be released Friday. The results indicate if the economy has started the year 2013 with a bad back would potentially trigger selling pressure Sterling. "We're worried about the weak structural growth in the UK, which is likely to sink further Sterling," said Paul Robson, currency analyst at RBS, which predicts Cable will sink to $ 1.53 in mid-2013.
Japan Industrial Output Disappointing Yen
Yen posted a monthly decline of more than 5% versus the U.S. dollar after the data showed Japan's industrial output was weaker than expected. Industrial productivity grew 2.5% in December, lower-than-expected 4.2% rise. Meanwhile, Deputy Governor of the Bank of Japan on Thursday had rejected criticism abroad, signaling the central bank's strong commitment to continuously poured more stimulus in an attempt to meet the new inflation target of 2%. To further attention of market participants will shift to the data of Non Farm Payrolls on Friday, which may clarify the health condition the U.S. labor market.
Sterling Vulnerable to Economic Concerns UK
Sterling moved away from its lows against the greenback after a few months of house price data that exceeds expectations spur purchases of the British currency. But Sterling is still vulnerable to concerns about the UK economy. Investors' focus will be on the next UK manufacturing PMI data will be released Friday. The results indicate if the economy has started the year 2013 with a bad back would potentially trigger selling pressure Sterling. "We're worried about the weak structural growth in the UK, which is likely to sink further Sterling," said Paul Robson, currency analyst at RBS, which predicts Cable will sink to $ 1.53 in mid-2013.
Japan Industrial Output Disappointing Yen
Yen posted a monthly decline of more than 5% versus the U.S. dollar after the data showed Japan's industrial output was weaker than expected. Industrial productivity grew 2.5% in December, lower-than-expected 4.2% rise. Meanwhile, Deputy Governor of the Bank of Japan on Thursday had rejected criticism abroad, signaling the central bank's strong commitment to continuously poured more stimulus in an attempt to meet the new inflation target of 2%. To further attention of market participants will shift to the data of Non Farm Payrolls on Friday, which may clarify the health condition the U.S. labor market.
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