EUR/usd
The euro is being gradually sold. At the same time stock markets are not the best benchmark as the main cause of the pressure on the single currency consists in the renewed fears for the sovereign debt crisis. Peripheral bond yields are again on the rise due to the increasing problems in the banking sector, which is under the threat of toughening of capital adequacy rules. Yesterday's comments of draghi, who said that the ECB was far from completing the cycle of the soft monetary policy. It was quite a logical statement for the head of the CB of the region where economy keeps shrinking. Yet one of the major problems is that lenders are not willing to provide loans to small business and households on reasonable terms, insuring themselves against potential losses. The unsteady situation in the Chinese money market maintains tension. The situation has stabilized on the comments of officials , but it is too far from being normal. We should keep the track of events as at any moment this news bomb can explode and echoes of the blast wave may be heard all around the world. The USA now keeps at a certain distance from the whole world. But Europe can rely on itself to a lesser degree, so problems in the West or East can seriously aggravate the situation.
GBP/USD
The sterling feels a bit better than its continental vis-a-vis due to the renewed fears for the welfare of the euro zone. Besides, buyers can safely rely on favourable economic statistics, which haven't been a rare thing lately. Traders' attention today will be focused on the round of government spending review, which will be presented by Osborne. He will introduce the spending plan for the year from April 2015, where he is expected to explain how £11.5bln will be saved. His comments can arouse nervousness in the markets.
AUD/USD
The aussie has been growing for four days in a row. audusd is now at 0.9300, while the bottom was hit on Monday at 0.9140. The Aussie, which is very sensitive to events in China, can only pray for the Celestial Empire to have no troubles, especially with the demand for metals.
gold
Gold keeps depreciating. For no particular reason with regard to fundamental news, this morning after breaking the support at 1270 the metal started falling and at some point reached 1243. Now Gold is consolidating at 1250, but probably it is not the end yet. It is too early to think about purchases. This instrument is capable of strong fluctuations.
