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Despite the intervention of the European Central Bank on Monday to buy the bonds, including Italy, Spain, equaling about 4.5 billions according to some economic reports.
Now the market is concerned more about the fears of Europe's crisis rather than the United States news.
The main event which controls the market since the weekly opening and so far was the fear about the severe debt crisis in the region of Europe also the rumors about the possibility of reducing the credit rating of Britain and France.
This applied pressure on the euro and and managed to pull the prices from the High"1.4420" to Yesterday's low "1.4129 "
This remains in place until the pressure is now
On the other hand, there's an important event today which is the decision of U.S. interest which is expected not to be changed, and the eyes are turned to the statement accompanying the decision by the U.S. Federal and any change in tone during talking or any reference to the QE III?
Generally the majority of the public analysts exclude having any updates about it today.
Scenarios were limited to one of these 3 ones:
First
Tone is worried but without reference to quantitative easing, If this happens, it is expected for the USD to rise against all currencies except Franc and Yen.
II
Tone is worried with reference to the quantitative easing and this may cause decline of USD against other currencies.
III
Optimistic tone, without any indication of the quantitative easing, although this is ruled out a little.
But that will cause the dollar to rise very strongly.
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