MORNING BRIEFING: the euro against the dollar again and again under pressure.

[RTFX-Trading]

MORNING BRIEFING: the euro against the dollar again and again under pressure.

What’s new:
Switzerland: Credit Suisse will pay a record fine in U.S.
Switzerland: Switzerland will suspend the tax agreement with France.
France: Snow disrupts French airports, Christmas is coming ...
France: Tax on bank bonuses only concern traders.
United States: the Fed keeping interest rates unchanged, slight hint of optimism.
United States: the current account deficit in Q3 is widening.
U.S.: Housing starts up slower rate than expected.
U.S.: rising consumer prices of 0.40% in November.
Norway: 0.25% increase in its interest rates.
S & P: lowers its rating on Greece, a negative outlook.

Today:



Rates in Asia and Indices:
EURUSD: 1.4536 - 1.4369.
USDCHF: 1.0482 - 1.0382.
EURUSD: 1.6341 - 1.6231.
EURJPY: 130.68 - 129.57.
USDJPY: 90.26 - 89.74.
Dow Jones: 10'441 -0.10%.
NASDAQ: 2,206 +0.27%.
S & P 500: 1'109 +0.11%.
Nikkei: 10'163 -0.13%.
Shanghai: 3'185 -2.15%.
Gold: $ 1'138.
Crude oil: $ 72.34.

Comments:

The EURUSD opened at 1.4530 in Asia. After beginning very quiet, following the announcement that the U.S. Federal Reserve keeps last night, the EURUSD has suffered downward pressure and finally broke the psychological point of 1.4500, which triggered large stop-loss selling. The market is liquiding its massive long Euro positions accumulated during the year 2009, the problems of Greece is the major cause: S & P has lowered the sovereign rating of Greece, a sign that decisions to Athens on a consolidation of public finances have not convinced investors.

Regarding the FOMC meeting of yesterday evening, the Fed, while expressing some optimism about the stability of the economy, has left interest rates unchanged, confirming that most of the exceptional measures undertaken to expire over the coming months. She added that the economic situation would allow interest rates at a record low for a "prolonged period".

Good day.

Nicolas Longchamp
RTFX Ltd
Head Office
The Cornerstone Complex, 16th September Square | Mosta MST 1180 | Malta
Tel:  +356 23 31 00 00
Fax: +356 21 41 24 58
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