FX.co ★ Fundamental analysis for January 16, 2013

The Forex market has no significant variations in these hours. In comparison with the end of American session on Tuesday, today it is kept in a little leisurely waiting for U.S. economic data. The consumer price index tops, with the indices of industrial production and capacity utilization, and oil inventories, a series of reports that prices move certainly in the major currencies. This data-set starts at 8:30 Eastern.
Of course the highlight of the day is expected at 2:00 pm ET, with the release of the Fed Beige Book the absence of changes in the interest rates, which is ruled by the time-inflation belie any this possibility, the vision of the American economy offered by different regional reserves, whose president and governors from the FOMC, which hints at the decisions can be in two weeks, take over the Federal reserve monetary policy.
That is why special attention should be paid to the time of the publication.
As for major currencies, the euro rebounded from its lowest level,1.3265; buy it has not overcome 1.3330, a value that it has to break firmly to start a new rally. We consider it is unlikely.
The pound remains very lateral, and its historic 1.60 against the dollar, which is not far. Meanwhile, the yen managed to cover in the last few hours, and could continue its upward trend before resuming low as scheduled by the new government of Japan. Its purpose lies at the level of 85.60 to the dollar.