Daily Market Review 30 of November
OVERVIEW

China might become the main power on the world arena while the dominating role of the US might decay. If China wants Yuan to have the status of the global reserve currency, then China will have to work hard to bring it to the global market. At the moment the leadership of China is afraid of such perspective.  Anyway problems and purpose of the currency for international accounting couldn’t be taken by the Chinese currency to put it mildly.  The results of the attempt to try to compete with the US Dollar we could have been watching for a little more than 10 years of the Euro existence. The latter might cease to be in the next couple of years. The Chinese currency has some similarities to the Euro as it reflects the peculiarities of the regional economy. But even taking to consideration great achievements of the economic development China can’t be hardly imagined in the role of the leading superpower.

CURRENCIES

EUR/USD


Yesterday the Euro grew against the US Dollar from 1.2938 to 1.3013. Analysts mark that the year 2013 promises to be the year of quite weak growth. As for the Euro there are no reasons to hope for some miracle as there are no strong positive factors for it.  At the same time the perspectives of economic recovery of the US in light of unsolved fiscal issue are quite uncertain



USD/JPY

The Us Dollar grew against the Yen from 81.90 to 82.54. Analysts state that the stabilizing of the US Dollar in the pair with Yen is a good event. The limit of the losses suggests that the sentiments on the market are positive. The consolidation in the near future might continue. But technical indicators suggest potential for anascend. The upward trend is anticipated to get above 82.65.