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Some questions will be discussed here, is the EUR headed Back to 1.60? and can the GBP remain in the levels of 1.97-1.98 and higher?
The Vulnerabilities of the US Dollars
The US Dollars weakened significantly this past week as rising oil prices revealed the vulnerabilities of the United States economy.
Oil prices are rising and the US dollar is falling, but is this the natural relationship between these two assets? Taking a look back at the two prominent oil shocks of the past four decades (1973 and 1979), we see that this is not necessarily the case.
1973 Oil Crisis: Initially Dollar Bullish, Eventually Dollar Bearish
In 1973, oil prices jumped 134% when the members of the OAPEC, which is OPEC plus Egypt and Syria, announced that they were no longer shipping oil to nations that supported Israel in its conflict with Syria and Egypt.
A quick overview of the services by AVAFX Trading Platform
AVA FX (AVA Financial LTD) is a forex broker based in Nicosia, Cyprus and was founded in 2006.
As many traders and analysts took the advantage of this growing correlation between asset classes to forecast movements in one market by analyzing the changes.
Whilst there seems to be little momentum under fundamental risk appetite; the bearing on sentiment is sufficient to put pressure on the market’s top funding currencies.
Many are wondering how an 85,000-count drop in net payrolls can be bearish, when the US dollar fell after the introduction of the December NFPs number this last Friday.
The Yen grew rapidly in opposition to the green buck late into Asian trading in the middle of conjunctures of big-sized repatriation by Japanese exporters, starting a wave of selling that pressured on the US dollar in opposition to almost all of its key counterparts.
The US Dollar went up dramatically higher as Asian markets responded to a positive interest rate statement from the US Federal Reserve, starting out a sign of stop orders that shifted EURUSD under the 1.44 mark for the first time since the end of August.
