In the US, Ben Bernanke, Federal Reserve Chairman, is due to testify in Washington DC.

In the US, Consumer Credit, value of unpaid requires payments consumers credit that over the previous month, due to rise from -9.5B on October up to 5.2B now.

In the US, Durable Goods Orders, an important indicator to value the manufacturers’ durable goods orders on the passing month, significant reduce from 4.1% on August to -0.4% this time. And on the Core Durable Goods Orders (without transportation items) we see the same direction reduce from 0.8% to 0.2% this month.

It seems that USD/CHF reached a bottom. One of the factors that pushed the pair lower was the rise in the prices of oil. The drop in oil, as well as in other commodities, contributed to the rise of USD/CHF. Will this continue?

In the US, The Institute for Supply Management (ISM), Manufacturing Purchasing Managers’ Index (PMI); Survey of about 400 purchasing managers to rate the relative level of business conditions, indicates industry expansion with57.8 points.

In the US, Federal Budget Balance, Difference in value between the federal government’s income and spending during the previous month, indicates a deficit with -150.4 B.

In the US, Philly Fed Manufacturing Index, survey of about 250 manufacturers in the Philadelphia Federal Reserve district which asks respondents to rate the relative level of general business conditions, measuring the level of a diffusion index based on surveyed manufacturers in Philadelphia, is about to rise up to 21.9 from 20.2. It’s a leading indicator of economic health and early signal of future economic activity such as spending, hiring, and investment.

The dollar has been losing ground across the board, but it’s not alone – also the yen suffers from risk appetite behavior. Yen crosses, including GBP/JPY are on the rise. Le’ts see the events:

The dollar fell instantly at the beginning of the week, and didn’t manage to close the gap. The US dollar index fell from 75.77 to 75.20 at the time of writing, close to the close. It now looks more clear: the comeback of the greenback two weeks ago was probably a short episode.

Arabic version of this daily outlook