Forex Fundamental Analysis
Friday marked the final trading session for the week, the month the quarter and the year for 2011. In this summary, we’ll see how things stand compared to 2010.
The Nikkei 225 index managed to end its final trading session of the year with a modest 0.7% rise, closing at 8455.35. Japan has endured one of its most tragic years in living memory following the devastating earthquake and tsunami which struck the nation in March.
During the Thursday session, the EUR/USD pair finally broke down below the 1.29 level as the fears over European debt issues continued.
Tis the season of low trading volumes which may account for the fact that the Euro has slipped to a ten-year low against the Yen and is at a one-year low against the US Dollar.
While it certainly can be said that the Europeans are not the only ones guilty of a little “creative accounting” or even a game of financial “Three card Monty”, the situation in Italy and some of the other countries in the European Union is rapidly becoming somewhat of a game in the recent months.
The Case-Shiller Index charts the value of US property stock in a ten and a 20 city sample. It is designed to give a national snapshot of what prices are doing in this key sector of the US economy.
Today, most major currencies are readily inter-convertible, but not all. If companies in China and Japan wish to do business, Yens and Yuans must first be converted into US Dollars and the Dollars converted into the target currency.
The last full trading week of 2011 saw all the world’s major markets make gains – except for the Nikkei which essentially stood still.
Today is practically the last working day of 2011 for most people as they prepare for end of year festivities. It seems an appropriate point for some nations to evaluate economic projections and revise performance.
It is the season of goodwill towards all men and I suppose that includes bankers. So perhaps one must be charitable when looking at the ECB’s end of year deal with banks since the intention is that a little of the economic Christmas magic should trickle down to the likes of you and me, eventually.
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