Euro goes down in value the U.S. Due to tough negotiation Fiscal - Fundamental Forex News Of Today

Euro goes down in value the U.S. Due to tough negotiation Fiscal. The single currency Euro seems sturdy perch above the range of $ 1.32 trading on Thursday thanks in part investor optimism after the release of a German business confidence data beat expectations amid rising optimism over Greek debt settlement. Ifo data showed German business sentiment rose for the second month in a row until December, thus supporting the expectation of recovery in Europe's biggest economy after economy slightly depressed in recent months. Speculators also seems there is still cut short position on the euro easing concerns over the region's debt crisis.

However, the current Euro level is much lower when compared to yesterday's session was to a high of $ 1.3308 which is the area of ​​the peak in the 8 ½-month high against the USD. Euro Correction is caused discussion along U.S. fiscal deficit reduction discussions after Obama threatened to veto. But eventually negotiated to avoid "fiscal cliff" gradually subside after John Boehner said the House of Representatives will put forward a budget proposal that has been veto by President Barack Obama. President Barack Obama said the two sides to within 200 billion dollars to an agreement and avoid a "fiscal cliff," and he was ready to finish the job. The euro exchange rate is now listed at $ 1.3216 after only capable climbed to a high of $ 1.3230.

U.S. Fiscal Anxiety Triggers Asia corrected


In general, today (Thursday, 20/12) Asian stocks suffered losses after the session yesterday rallied up to a high level in 17 months. Correction for the day, influenced by a selloff in U.S. equities due to prolonged politicians talk about 'fiscal gap' United States (U.S.). U.S. President Barack Obama and some Republican leaders are now a long discussion about rising taxes and budget cuts next year. Many people rate it could affect the U.S. economy in the future, even iru prompting concerns that the world's biggest economy will go back into recession zone. However, investor expectations remain hopeful a deal could be reached as soon as possible. Besides expectations of further easing measures from the Bank of Japan which was originally going to end the meeting today, also would boost market sentiment.

In Asia, Nikkei - Japan had slipped more than 1 percent ahead of the policy meeting the Bank of Japan (BOJ) after yesterday's sharp rally that made the index ended above the critical level of 10,000 for the first time since April. While the Stock Exchange of Hong Kong - Hang Seng also be corrected by 0.35% due to more widespread investor uncertainty related to the discussion of countermeasures 'fiscal cliff' protracted U.S..

While the Kospi stock - South Korean won gains today even after the Korean market closed yesterday regarding the presidential elections in the country. Traded stock, sector exporters apparent rebound as the market digested and acquiring regional markets rallied on the session yesterday when the Kospi stock lid.

Sterling Continues Rally After BoE Minutes - Fundamental Forex News of Today

Sterling Continues Rally After BoE Minutes. Pound rallied against the greenback continues to day-to-4 minutes straight after the release of the Bank of England policy meeting. Minutes show the results of voting 8-1 to stop the bond-buying program, as easing the risk of the European crisis and the rising threat of inflation. Among the nine members of the MPC, only David Miles is still calling for an increase asset purchase target by £ 25 billion ($ 40.7 billion).

"The market is assessing the results of voting as a factor 8-1 hawkish," said Neil Jones, head of European hedge-fund sales at Mizuho Corporate Bank Ltd.. in London. "And the market will start anticipating stronger economic performance in the first quarter, which will drive demand for UK Sterling and assets."

Stevens comments Anxiety Triggers Aussie

The Australian dollar slipped for the second day in a row against the U.S. currency as the emergence of concerns that a slowing domestic economy will urge the RBA to lower interest rates. Currency that is often called Aussie weakness against most of its 16 major trading partners after the Reserve Bank of Australia Governor, Glenn Stevens, said about the risks in the shift of growth from the mining sector to the other sectors.

"Governor Stevens was always worried about the output gap and what it will cover a vacancy when the mining investment slowed," said

Hans Kunnen, an economist at St. George Bank Ltd.. in Sydney. "The fact that the RBA has also seen the potential for growth in the Australian economy more slowly helped diminish enthusiasm for the Aussie." While the economic data released Westpac Banking Corp. and the Melbourne Institute shows the projected growth of the Australian economy in the future only rose by 0.1% to 285.7 in October, after posting a 0.6% rise the previous month.

Budget Impasse Negotiations Back Burden Wall St - Forex Today Fundamental Analysis

Budget Impasse Negotiations Back Burden Wall St.  Most of the stocks on Wall Street have turned lower on Wednesday as trading the U.S. budget impasse in negotiations. The failure of politicians to produce a new compromise risk provoking a fiscal gap, which could sink the U.S. economy back into recession next year. The Dow Jones Industrial Average turned down more than 20 points, after successfully recorded 3-digit rally in the previous session, with the largest decrease shown Alcoa shares. Similar movement was also seen in the S & P 500 and Nasdaq Composite, each of which had lost 0.3% and 0.2%.

The White House again rejected a proposal by the Chairman of the U.S. House of Representatives, John Boehner, who requires an extension of Bush era tax cuts programs for individuals earning up to $ 1 million. President Obama has even said he would veto the Act would, if enacted. From the fundamental side, the construction of new homes in the U.S. fell by 3% to 861,000 units in November as the impact of the blow of

Hurricane Sandy at the end of October. Meanwhile, building permits, which reflect demand in the future, recorded an increase of 3.6% to 899,000 units. While some recent earnings report released better than expected. Manufacturer of computer hardware, Oracle, posted a profit above expectations. That drives at least 7 brokerage raised its price target for shares of Oracle. FedEx also successfully confront analysts' forecasts after announcing earnings decline was not as bad as expected.

German data Topang Euro Optimism

The euro managed to touch the 8 ½-month peak versus the U.S. Dollar after the release of German business confidence data that exceeds expectations and rising optimism over Greek debt settlement. Ifo data showed German business sentiment rose for the second month in a row in December, supporting the expectation of recovery in Europe's largest economy after a little depressed in recent months. Speculators continued to trim short positions in the euro easing concerns over the region's debt crisis.

"Fundamental factors have pushed euro traded higher throughout the market," said Vassili Serebriakov, currency analyst at BNP Paribas in New York. "We can see the solid data from Germany, while the resolution of the Greek problem also seems to run smoothly." Most analysts believe if the Euro will be able to extend its dominance of the U.S. dollar year-end as rising demand from companies and long-term investors.

Leonel Andres "Messiah" Messi, - The World Football Breaker Record

Leonel Andres "Messiah" Messi - Thiago Messi World Record Breaker

Leonel Andres  "Messiah" Messi, - The World Football Breaker Record.Initially a lot of people do not believe the tiny man who plays 169 cm was able to shock the world. The young man who in childhood had growth hormone deficiency was actually solve many world records. Everything is answered already two weeks ago, and the firm over the weekend. Lionel Messi has collected a fantastic number of goals for 2012: 90 ! The figure comes from hard work and exceptional talent comes from a classy individual.

In some cultures, the left limb was always synonymous with things that are not good. For most people, the left limb was to be the weakest part, for example, left hand and left foot. But not so with Lionel Messi. Barcelona striker left foot into a God-given gift. Posture is small for the size of Europe. However, it was the left leg which makes it a great player. Messi has scored a record-breaking year in Germany striker Gerd Muller possession that lasted for 40 years as against Athletic Bilbao on December 2, 2012 last. Messi does not stop with a notch 86 goals and forward them to 90 goals.

Apart from the technical side, not many people know that the left-footed Messi is the main source of the birth of a fantastic scoring record. Of the 90 goals that have packed the three times World Player of the row, 73 of them born of greatness Messi left foot. An average of 80 percent this year Messi goals created with the left foot. In fact, the emergence of fantastic statistics are not surprising as Lionel Messi is a left-hander. A total of 59 goals from Thiago's father created it with the left foot from open play situations. Messi Skills cultivate the round leather is also increasingly evident when 6 of the 59 goals were created to poke the ball. In addition to an open game, Messi also good at creating goals through dead ball situations. Seven goals were created La Pulga free kick left-footed and 14 other goals were created from the penalty spot. Real Madrid goalkeeper, Iker Casillas, including those who have felt the skill Messi struck the ball with a penalty and a free kick.

Notch 90 goals Messi scored not only with the left foot. Messi also scored a goal with his right foot. A total of seven goals Messi has been created with the right foot. Two of them even with a poke ball. Unfortunately, lack of trust Messi as the right foot to the affairs of the dead ball. None of the goals from Messi, either a free kick or a penalty kick, which uses the right foot. However, Messi was able to cover it with the other great abilities. Although short posture, male Argentina is also able to create a goal with a header. To this day, Messi has created a three-goal with a header. One of them is printed on goal from the Russian team, Spartak Moscow, the majority of the players posture is much higher than Messi.

It was indeed worth putting Lionel Messi as the football gods replace legends like Pele and Maradona. It is not likely there will be a conviction that would put Messi as the worshiped, like Diego Maradona.

Today Forex Fundamental News Analysis

Overnight Gold Down to 1660 For Fiscal Cliff. Gold is down nearly 2% on Tuesday to its lowest level since August to a level of 1660.80, hit by a massive sell-off and the heightened expectations that the U.S. government will soon reach an agreement to avoid a fiscal crisis next month. Gold scored the biggest daily drop since 2 November. Analysts said gold was supported by rising trendline MA200 day and annual near $ 1.660 per ounce. "If gold can not survive on a key support level, it may be a technical selloff will continue," said Adam Sarhan, CEO of Sarhan Capital.

Easing Expectations Shoot for Asian stocks

Tokyo stocks good perform today (19/12) with the Nikkei perched above the level of 10,000 for the first time since April 4. A weaker yen and rising expectations for monetary easing short-term benefit performance of Japanese stocks. The dollar rose against the yen and rose to Y84.30 compared with Y84.20 late Tuesday in New York - after Japan reported a trade deficit that was almost flat for the month of November. Longest monthly decline since 1980. Data was released one day before the meeting information Bank of Japan. Investors focus on the political implications of the Liberal Democratic Party victory. The majority of economists surveyed by Dow Jones Newswires had predicted that the central bank will implement easing measures at its policy meeting this week.

A weaker yen combined with strong post-election sentiment helped push the Nikkei index to stay above the level of 10,000 for the first time since April 4. The index rose 1.1% to 10,085. Shares construction helped by positive sentiment after Mr. Abe pledged to budget for spending on a large scale. In addition, the stock price after the Nikkei financial performance trim through the level of 10,000. Mitsubishi UFJ Financial Group gains 5.1%, Nomura Holdings rose 4.5%, and Nippon Steel & Sumitomo Metal Corporation rose 4.1%.

Exporters continued to print the gain due to the weakening yen. Toyota Motor rose 2.2% and Canon rose 4.5%. Regional markets are still focused on efforts to issue U.S. fiscal cliff - the package of tax increases and spending cuts that are scheduled to be implemented next year. Yesterday (18/12) President Barack Obama indicated that he wants to compromise on the level of annual income to be taxed higher. S & P / ASX 200 rose 0.2% Australia, responded well after mining iron ore price increase. Rio Tinto rose 0.9% and BHP Billiton rose 0.7%.

Gold mining company, Newcrest Mining fell 2.6% after gold closed at its lowest level in more than three months. Gold prices rebounded in early Asian trading session and has recorded an increase of $ 3.20 at $ 1,674.10 an ounce. Also in Sydney, shares of surf apparel manufacturer Billabong International plunged 10.7%, after the company cut its earnings estimate yearly. Hong Kong's Hang Seng Index rose 0.5%. While Esprit Holdings fell 5.5% after yesterday said the biggest losses in the six months ended December 31 due to the deteriorating operating profit for the period July-September. In the mainland Chinese market, the Shanghai Composite Index rose 0.1%. South Korea's market is closed today for the presidential election.

Aussie Avoid High Level

Although the equity market risk appetite is seen to rise with 1:15% SP500 U.S. rose to a high of only 2 months, selling depress the exchange rate AUD / USD to a weekly low of 1.0513 due to the decline in commodity markets such as gold dropped to -1.61% during the NY market closed . Copper also fell to a low level weekly. Australian data releases showed the MI Leading Index was at its lowest level in 11 months at 0.1%. Valeria Bednarik, chief analyst at Fxstreet.com, explained that according to the hourly chart the movement of the AUD / USD looks bearish and below SMA 20 with indicators being negative territory. If the currency broke through the support level, the Aussie likely to continue weakening to 1.0460, "he added. "The interest sold will be reduced in line with weakening currencies in the 1.0400/30 level, otherwise interest will increase the purchase of currency." Aussie support levels at 1.0505, 1.0460 and 1.0430, while resistance levels at 1.0525, 1.0540 and 1.0590.

Obama Ready Republican Press the "Plan B"

John Boehner, a spokesman for the U.S. Congress from the Republicans proposed a proprosal that might prevent the imposition of a tax increase to the U.S. citizens who have an income of less than $ 1 million in his stride to push Obama. Republicans in the U.S. Congress back in the offensive position against negotiating fiscal cliff Tuesday, giving pressure to perform a backup plan before closing this year in order to avoid a tax increase for citizens with incomes of less than $ 1 million per year. Congress Party Republican proposed any proposal that may be proposals that have been proposed previously. The move, as revealed by a spokesman for the Congress, John Boehner in a conference at the congress, aimed at pressing the Obama position. This will change the position of the White House to the Republicans in the U.S. Congress: the likelihood that the White House would be blamed if the majority of taxpayers subject to the higher tax increase next year.

U.S. Budget Optimism and Euro Rally

The Solid Euro Above 1.3200. With the approach of the holidays, the dollar enters the stage konsolidatif although overall traded lower against major currencies. Market participants continue to monitor U.S. budget talks and despite signs of progress in the budget negotiations, the forex market does not respond strongly about it, while many analysts assert that the deal should have expected at this point. On Tuesday, the euro and the pound hit a high against the dollar, while the currency-related commodities such as AUD and CAD moved lower after the RBA said that mining investment is estimated to have peaked. Meanwhile, the greenback traded above 84.00 against the yen, this is the highest level in almost eight months, as the Japanese currency weakened amid speculation the BOJ might be easier to make policy further on Thursday. "When the terms of trade is rather thin and could move unexpectedly, our bias for further currency trading is bullish in the short term". Said Nick Bennenbroel, an analyst at Wells Fargo Bank.
 

Sterling Mute Fear Inflation Data. Pound rose to their highest in more than 2 ½-month low against the U.S. dollar after UK inflation data dampen expectations of further QE by the Bank of England in the near future. UK consumer price inflation was steady at 2.7% in November after posting a staggering surge in the previous month. But some analysts warned that Sterling could again depressed if the BoE meeting minutes released Wednesday showed more dovish. "Sterling has shown strong performance in recent sessions," said Audrey Childe-Freeman, currency strategist at BMO Capital Markets. "Regardless of the numbers of stable inflation, the central bank meeting minutes and retail sales data was the main focus this week. Minutes a more dovish Sterling returns to risk a vulnerable position."

Hurting Aussie RBA Minutes. The Australian dollar hit after minutes meeting the Reserve Bank of Australia shows if the weak labor market is the main reason that drives interest rate cut in December. In the RBA's minutes also assess if China's growth is stabilizing. But the weaker currency often called Aussie is still limited after major economic indicators released Conference Board Australia has recorded an increase in October. "Expectations of lower interest rates further RBA Jula has brought pressure for the Aussie," said Takuya Kawabata in their speak, some researcher at Gaitame.com Research Institute Ltd.. in Tokyo. "But the Aussie back making demand after the market digested some positive comments about the growth of China. RBA may still be wait and see what happens before deciding further interest rate cuts next year."

U.S. Budget Optimism and Euro Rally. The euro soared to its highest level in more than a 7-month high versus the U.S. dollar as the emergence of signs of progress in the negotiations the U.S. budget, which sparked risk appetite in the market. Market players sold safe-haven assets like the dollar amid optimism that U.S. politicians will be able to reach an agreement to avoid "fiscal cliff ', a combination of tax hikes and spending cuts that risk drowning the world's biggest economy back into recession next year. The achievement of a new compromise on the U.S. budget assessed as a positive thing that can trigger risk appetite and favor riskier currencies like the euro, which in turn would weigh on the Greenback. The increase shown euro also helped push Spanish and Italian bond yields moved lower and boost demand for European stocks.

Overview of Forex Trading Today: EURO and USD same have a risk

Overview of Forex Trading Today: EURO and USD same have a risk - Last week was tragic weekend for the single currency Euro. Because currencies are going to rise memorandum (Rally) in a row in the last 4 weeks. Strengthening this turns out to end the week were triggered by gloomy economic future of Europe.

What causes the grim future of Europe? Last week ECB President Mario Draghi issued a statement that surprised many on the future of the European economy. The ECB lowered its growth forecast drastically after all this time applying a 0.75% interest rate is the lowest rate for European history. Projected GDP (Gross Domestic Product) declined 0.9% and will only flourish as much as 0.3% next year where it will lead to economic contraction. Draghi said in a speech that the European economy will weaken throughout 2013 and into 2013 as sovereign debt problems are still stuck. ECB expected strengthening of the end of 2013 will occur gradually along with the increasing demand for the global economy. European economic slowdown has led to speculation of impending rate cuts is now the lowest it has been during the history.

Meanwhile, a day after cutting its growth forecast by the ECB, the Bundesbank also issued a forecast that is no less bad for the country of Germany. Germany as the country with the strongest economy in Europe greatly affect the performance of the European currency. Germany has been the key to the economic development of Europe since the crisis began first times, but it looks to be a shield German resistance to other European countries looks begin to fade. If the "champion" of Europe is projected to weaken it will greatly affect the performance of all members of the Euro. Economic Data Industrial Orders and Output in Germany have fallen backwards a few months marked by the fall of export performance. Bundesbank stated that Germany is likely to enter a recession that is likely to occur in the last kwarta 2012 and continued into the first quarter of 2013. Bundesbank also lowered its economic growth the previous year's 1.0% to 0.7% in 2013 and a previous projection of 1.6% to 0.4%. Meanwhile, inflation is expected to fall from 2.1% to 2.0% this year and 1.6% in 2013.

Meanwhile, how is the country of Uncle Sam, the United States? The U.S. dollar got a fresh breath after data NFP (Non Farm Payroll) and the unemployment rate improved this month. Data previously NFP increased 138,000 to 146,000 this month. Un-employments level decreased from 7.9% to 7.7%. This data is really a trigger for the U.S. dollar to skyrocket upwards at the close of trading last week. The U.S. dollar index which last week reached the lowest figure on 79.56 fly to the highest weekly figure 80.65.

But if the United States is in the improvement in the economy. Some have noticed that the U.S. economy will not be as fast and easy as it is out of the current crisis. Still remember Fiscal Cliff or gap? Read more about it here or in the Fiscal Cliff. Until now, both sides between President Obama's administration and Republicans have yet to find the midpoint that can answer the challenge Fiscal Cliff. Meanwhile, if we count the end of December 2012 will come in 22 days then the U.S. will re-run the race of time provide the best solution for all parties and the American people. Some authorities opine that a solution will be reached over finding the midpoint between the two camps than providing a solution that really appropriate and necessary. From the data rate of NFP and unemployment rate in November alone several parties sound pessimistic in assessing the figures released as the numbers are not real. Peter Schiff, CEO and Chief Global Streatigs at Euro Pacific Capital gave the opinion that the U.S. government has set a low unemployment rate by convincing unemployment to employment benefits using them rather than encourage them to work.

Next week will be marked by some important economic data from various countries as reviewed below :

European Market :
- Industrial Production Italy and France.
- Sentix Investor Confidence.
- German ZEW Economic Sentiment.
- Euro ZEW Sentiment.
- Euro Industrial Priduction.
- EU Economic Summit.
- Eurogroup Meeting.
- Euro Manufacturing PMI
- Euro Services PMI.
- Euro CPI and Core CPI.

U.S. Market :
- Data Trade Balance.
- 10-yr Bond Auction.
- Data Core Retail Sales and Retail Sales.
- PPI data.
- Unemployment Claim.
- Core CPI and CPI.
- Manufacturing PMI.
- Industrial Production.
- FOMC Statement.
- Data Interest Rate
- FOMC Economic Projections.
- Federal Budget Balance.
- FOMC Press Conference.

Market Australia:
- Home Loans.
- NAB Business Confidence.
- Westpac Consumer Sentiment.
- Speech of the Governor of the RBA.
- Data Inflation Expectation.

UK Market:
- Claimant Count Change.
- Unemployment Claim.
- Speech MPC Member.
- CBI Industrial Order Expectations.

EURUSD

EURUSD rally to end long after the fourth week running. EURUSD could skyrocket to the highest value at 1.3125 and price should be much touched at low price at 1.2877 in late trading last week. Cutting economic projections by ECB and negative currents of the Bundesbank has made the European economy became more grim.

Our position on EURUSD next week is Neutral. Last week EURUSD was wracked by deep drop back to levels below 1.3000. But the euro's decline technically still in the corridor correction after several weeks of rallies. EURUSD is likely to move sideways for the next week. The price range would move between support the range of 1.2830 to 1.3000 resistance psychological in that area.

Negative at Yen, Reactive Prepare For U.S. NFP Data - NFP today

Negative at Yen, Reactive Prepare For U.S. NFP Data. USD / JPY spent the day trading in a range with negative bias, after falling to a daily low at 81.19 from its previous high at 82.60 before closing at 82.38.
"USD / JPY is likely to react immediately to the news of the U.S. workforce, soaring with weakened if a positive number and a negative data releases show up," said Valeria Bednarik, Chief Analyst at FXstreet.com. "Of course, if there is a strong deviation between the actual data and estimates, the closer the hope to be able to keep the yen in its new range of 81.80/82.60."


Technically, Ms. Bednarik said the indicators were flat in the neutral zone, giving little hint of the direction. However, if we consider the period of time is higher, the most obvious resistance: NORTH (weaker yen). Daily period illustrates the sequence divergence moving average for the yen, showing bullish trend momentum, and chart the weekly period looks ready to print second pin inside-week, as the market consolidates recent movements Yen. If bullish signals noted above 82.60/80 resistance area (Fibo 78.6%, a decrease 84.16/77.12) realized in the next few weeks, there may be room for the yen to run to 84.00 (high level in March 2012). Next bullish target is located at 85.50.

Oil inventories fell associated with ECB

U.S. crude oil contract on the Nymex on Friday moved down lower than the decline Wednesday, with a few traders in line with the falling price related weekly crude oil inventory data. Prices have been lowered for 3 days in a row. The analysts also cited the current price movement associated weak economic forecasts from the ECB. NYMEX crude oil contract in January fell 1.8% to $ 86.26 per barrel.

Greece & Germany Euro Boost Optimism

Greece & Germany Euro Boost Optimism. The euro soared to a 3-week highs versus the U.S. dollar on Friday, amid optimism the international creditors will soon agree on the next tranche of aid disbursement to Greece. Rebound index of German business sentiment also helped support the euro appreciation. But the gloomy outlook for the euro zone and the potential for further policy easing from the European Central Bank looks still limit the strengthening of the single currency.

"Without prejudice to the opportunity to reach agreement on Greek aid, some other news show if technical constraints and laws of leftovers. Was indicated if the potential for failure is looming," said Nick Bennenbroek, head of currency strategy at Wells Fargo in New York.


Optimistic Euro Liquid Will Help Greece
The euro jumped to a 3-week highs versus the U.S. dollar on Thursday, amid expectations that international creditors will soon agree on the next tranche of aid for Greece. The single currency was also helped by data showing euro zone manufacturing activity was not as bad as expected in November, easing concerns about a deeper recession. But the recovery looks fragile as the Euro is still gloomy economic outlook in the coming months, keeping the possibility of interest rate cuts by the European Central Bank.

"The lack of bad news on Thursday has helped Euro moved higher, after being depressed by the failure of international creditors to agree on aid for Greece earlier this week," said Saeed Amen, forex analyst at Nomura. Yields on Greek and Spanish bonds moved lower also helped shore up market sentiment, according to traders has prompted a number of purchases by U.S. investors.

Take advantage of Momentum, Aussie Print Weekly Increase
 

The Australian dollar posted a weekly gain against the U.S. currency following a rally in global stocks, which boosted demand for riskier assets. Yield on Australian 10-year bonds also rose to its highest level in almost a month amid speculation that European finance ministers would immediately disburse aid package for Greece. The improvement in China's manufacturing sector activity, Australia's biggest trading partner, has also been the country's export prospects shiny kangaroo.

"The Rise of the $ 1.03 area have built some momentum, which could potentially push the Aussie back to the $ 1.05 area," said Jim Vrondas, a manager at OzForex Ltd.. in Sydney.

Greek chaos Immerse Euro - Euro falls

Greek chaos Immerse Euro. The euro fell back to 2-month lows against the U.S. dollar in the new Monday night as the new uncertainties associated sticking out the next stage of the rescue package for Greece. Greek PM warns if Greece may be forced emotion out of the Euro zone if the Greek parliament approved an austerity package nor new proposed budget. The results of parliamentary voting against tightening package worth 13 billion euros will be released on Wednesday this week.

If parliament approved the austerity plan, the EU and the IMF will approve aid package for Greece. New Democracy Party and its coalition partner ecpectation narrowly won over the budget plan so as to secure the position of Greece in the euro zone at least for a while. Observed so far pairing EURUSD fell -0.44% at 1.2778, after reaching its lowest point at 1.2768 and intraday high levels daily at 1.2841.

Anxiety Greece is still a major factor dragging down EURUSD today, even likely fall into the range of 1:24 to 1:27 until the end of the year. Opportunities rise EURUSD likely triggered by profit-taking if Obama won re-election of U.S. President Tuesday.

Greece Euro Anxious to Get Help

The euro fell to its lowest level in nearly 8 weeks against the dollar on speculation Greece will be difficult to get a bailout fund, the risk for the future of Greece in the euro bloc. The euro weakened against all major currencies after Greek Prime Minister Antonis Samaras yesterday promised that the salary and pension cuts it proposes will be the last as he tried to gain political support for policies that would ensure the sustainability of Greek sovereign. "All the negative factors lining up for the euro," said Neil Mellor, a strategic foreign currency strategist at Bank of New York Mellon Corp.. in London. "It remains unclear how the voting will take place and we are still not sure if the voting was going well will have a positive impact for Greece and the euro zone."


Forex Still Focused On U.S. Elections

The foreign exchange market this week's U.S. presidential election fell on a Tuesday, which helped determine the outcome of the election is the fate of the fiscal gap, government regulations and policies of the Fed going forward. Issues fiscal gap consists of government spending programs and tax cuts are scheduled to expire at the end of this year, has the potential to send the U.S. economy back on track recession if U.S. policy makers failed to reach agreement draw up new laws.

Presidential and legislative election results this time certainly can determine the U.S. fiscal gap debate, but whoever the winner of the U.S. Presidential candidates deadlock in the legislature a more important role with fluctuations in major currencies. In addition, the results of the U.S. elections could also impact on the direction of the U.S. central bank's monetary policy, which has so far made a purchase of bonds and weaken the U.S. dollar due to higher supply-related dollar stimulus, it is likely to reverse direction if Mitt Romney was elected, as he give signal that would be The Fed's new governor is a more aggressive in tightening monetary policy rather than monetary easing at this time. Furthermore bergesr also focus on ECB monetary policy meeting on Thursday, although there has been no change in monetary policy expectations, but investors are still waiting for confirmation bailout Spain.


Some Uncertainties haunt Euro

The euro sank to its lowest in nearly two-month high versus the U.S. dollar on Monday as uncertainty about the outbreak of the next disbursement of bailout for Greece stage. Investors also look extra cautious ahead of the U.S. presidential election on Tuesday. EURUSD is currently offered in the range of 1.2785 or about 0.2% below the closing price on Friday, after touching the lowest level at 1.2777 daily. Concerns over Greece weigh on the currency the 17-nation bloc earlier this week, ahead of the parliamentary vote on the plan of tax increases and cuts in new budget required by Troika. Failure to meet these requirements will threaten bailout next stage, which is indispensable Athens to avoid bankruptcy.

"Some traders seem to also start looking further indication of the weakening euro, after trading in the range of 1:28 to 1:32 that has curb euro since mid-September," said Michael Derks, chief strategist at FxPro. "Dollar bullish movement also needs to be addressed with care, Obama's victory is likely to trigger some profit taking on Wednesday." U.S. Presidential election process will begin on Tuesday, the latest poll shows support for the thin sound differences between President Barack Obama and Mitt Romney.