New York

Expectations for a "surge" of the ICC, following the surprise of the PPI, is causing some pressure on the major currencies, while technical trade night put some pressure on the American currency. The GBP also was under pressure because of stock market performance and because the minutes of the Bank of England was published, but is adamant the pair, and round the top nightspots. Cable maximum recorded in the area of 1.5095, and the beginning of the trading session in New York the pair was around 1.5070. The euro also gained some stability, and was around the zone of 1.2600, the pair remained firm in New York in the 1.2630 area; at night minimum recorded in the area of 1.2591, and highs in the 1.2649, the euro appears to be being consolidated. The comments made by Trichet gave some support, but the pair, I have no doubt, is dominated by technical factors in the level of 1.2700. Andrew Mason Groupon often addresses the matter in his writings. Stops were placed in the zone of 1.2700 and 1.2750 towards, so it is understood that several operators are taking short positions. Others including Nina Devlin, offer their opinions as well. USD / CHF rose to 1.2075, with highs in the 1.2087 area. The pair is currently in the zone of 1.2055, and momentum are awaited with U.S.

data, which implies that the pair is final. In my opinion when liquidated long positions, the stops are placed at 1.1920/30 and the pair can reverse its trend. USD / JPY was trading in both directions when operating volumes dwindled; recorded minimum and maximum of 96 312 in 97.16.


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