The overall market is moving in a very narrow price range except for the yen, which seems to move in bearish trend in the medium term quite clear. The trends of the other leading currencies are not fully defined.
The euro ended December near the 1.32 area, just two cents above the annual opening. In the middle it touched 1.20 in its weakest moment. However, its rise seems very sustainable. The last days of 2012 were marked by so-called "fiscal abyss" in the United States.
But aside from that the problem is not yet solved. The new year brings other questions of greater seriousness, what is the situation in the countries of southern Europe, with the earliest examples Spain, Greece, and Italy. The latter hacked also by some of its usual political crises.
Europe continue make efforts to stabilize and its leaders are or appear to be able to find a fairly clear path to the solution, which, incidentally, is none other than the issuance of money, the purchase of toxic assets, and the implementing policies for economic growth.
The other currencies gained and lost against the dollar.
And with very sharp movements against the dollar (with the exception of the yen) is the first European meeting of the year is being developed, awaiting news of the first round beginning on the direction of the major pairs for the next few hours. All dollar pairs offer great gaps of logins, taking care of the case, ought to be exploited. These are good opportunities to start the year winning many points in many pairs, especially the USD/JPY, EUR/USD, and GBP/USD.
In this context, the U.S. ISM manufacturing, scheduled for 10:00 Eastern, it is most important macro indicator. It will also be to highlight the opening of the NYSE, at 9:30, which is likely to offer significant movements for currencies.
