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The markets are not reflecting the reality of the US economy


From a fundamental point of view we had during the American session the publication of the minutes from the last Fed meeting. In these notes, highlight the comment in which it is pointed out that the markets are not reflecting the reality of the US economy and the real economy is having a better performance than reflect the markets.

Undefined and range movements was what the markets offered for traders on Wednesday. Neither the Yen crosses neither the US dollar crosses could beat the medium-term trends with which they fight for several days. Even the release of the minutes did not cause major changes in the markets, which seem to be waiting for further news before making a final decision.

Oil got hefty profits of $2 per barrel on average, with Brent at 34 and WTI at 30. Agreements to freeze oil production seem to be having an effect on investors. Stock indexes rose strongly with the German Dax gaining ground in a 2.52% to 9,400 points. Gold meanwhile remained stable in the region of 1,200.

Early in the morning of Thursday we see the EUR/USD struggling with the medium term resistance at 1.1135  and generating a minimum profit of 0.18%. GBP/USD shows a progress of 0.11% trying to break the resistance zone near 1.43. USD/CHF has had a slight drop of -0.12% to level 0.9915 and AUD/USD also fell by -0.21% to 0.7128  after the publication of employment data in Australia belonging to January, which was terrible.

Yen crosses show weakness in the pre-opening of the European session: USD/JPY has a moderate fall of -0.35% and trades in the 113.94 level. EUR/JPY also had a minimal fall of  -0.18% fighting against a long-term resistance in 126.97 and  GBP/JPY  presents minimal losses of -0.17% fighting congestion in the medium-long term passing through the 162.99 level.

Opening prices for the day in the major pairs are:

  • EURUSD: 1.1121
  • USDJPY: 114.31
  • GBPUSD: 1.4283
  • EURJPY: 127.11
  • USDCHF: 0.9928
  • AUDUSD: 0.7173


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