The euro was down at the start of trading today to its lowest level for almost two months of his statement from Moody's credit rating, which reduced the credit rating of a number of banks in Eastern Europe and this has added to the confusion that is raging in the European banking system, but returned after the data associated with the European ZEW indicator of economic confidence in the month of February, which improved to -8.7 percent compared to -30.8 and reduced the deficit in the trade balance for the month of December at a rate of -0.7% versus -7.0% and the improvement of the ZEW indicator of economic confidence in the month of February in Germany up to -5.8 compared to -31.0.
According to data from the European economy to improve confidence in the economy which would have positive effects on consumption and expenditure rates, which in turn will support the production cycle of the European companies will reduce rates and the demobilization of staff to improve the levels of sales.
Opened on the euro trading at 1.2800 levels and is parallel to the top, where it decreased to the lowest levels on record, and 1.2601 is expected to be back to face the highest level of resistance at 1.2685, as long as stable over the levels of support at 1.2605.
Increased sterling trades in the day after the economic data relating to the improvement in retail sales price index for the month of January to reach a rate of -1.3% compared to the previous reading at -1.4% and the consumer price index down for the month of January to record a decrease of 0.7% compared to low-literacy previous 0.4-% and this reading is better than expectations.
These data indicate improved levels of expenditure associated with improvement in the high level of wages that have the potential to reduce the impact of economic recession in the United Kingdom and this relieved the pressure on the British government to find appropriate solutions to revive the economy collapsed.
Transactions on the GBP/USD was called to order at 1.9297 levels and increased slightly at the highest levels on record and then fell to 1.4311 marks at the lower levels of 1.4125 and is expected to complete the course to face the declining level of support at 1.4240 with the possibility that the correct movement of the top face of the resistance level at 1.4305.
The U.S. dollar fell against the yen after comments by Japanese Finance Minister that he would resign from his post after the passage of budget bills for the national parliament and the decision to resign came after the martyrs in a press conference subsequent to the Group of Seven meeting in Rome.
Transactions of the USD/JPY was called to order at levels of 91.71 and rose to record levels of 92.75 at the top, then returned and dropped to the lowest levels recorded 91.57 and is expected to complete the course of the highest and is now deliberating between the level of support at the 91.40 level and resistance at 92.05.
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