Euro Dollar: The appetite for risk declines Wednesday, June 23, 2010 at 11:14

The euro stabilized against the dollar this morning after suffering reflux attributable to rollover short-term observable market shares, leading the family of so-called risk assets. Yesterday clearances intensified on Wall Street, in the wake of the publication of a decline in existing home resales. According to the National Association of Realtors (NAR), slightly more than 5.66 million houses and apartments have changed hands last month against 5.79 million (revised up) in April. The gauge of risk appetite is for now on the decline, and traders will draw conclusions as to their trading plan on the Euro / Dollar.

Around 11:00, the spot EURUSD is approximately 1.2280.

From a graphical perspective, the view schedule gives us only very few readable information, both in terms of reading combinations of candles on the recognition of figures of chartists. We prefer these conditions are not conducive to the position short term, stay out of the market on this currency pair.
On the macroeconomic side, traders will learn about the nine U.S. home sales at 16:00, the weekly report on petroleum inventories at 16:30. Finally, we will know the outcome of the meeting of the Monetary Policy Committee of the Fed / FOMC at 20:15. (Paris time)


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