The EUR/USD pairing hit a wall yesterday when European markets closed, as Eurogroup President Jean-Claude Juncker stated publicly that the euro is currently trading at dangerously high levels. The single currency lost close to 70 points against the greenback in the minutes that followed the declaration. Juncker is probably worried of the negative impact that a strong currency can have on the exports of the euro area.
Yesterday's warning by ratings agency Fitch that it will lower the credit rating of the world's largest economy if Washington does not agree to raise the debt ceiling soon has not yet scared markets. The VIX Volatility Index, which rises when stock markets are nervous and falls when they are optimistic, is currently at 13.55, compared to an all-time high of 48 in August 2011 in the thick of the previous debt ceiling saga.
South of the border, Consumer Price Index figures will be released at 8:30 this morning and the Fed's Beige Book at 2 p.m. Australian job figures will be announced at 7:30 p.m. Have a nice day.
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NBC Daily Forex : January 16, 2013
Published 01/17/2013, 06:18 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex : January 16, 2013
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