Eurodollar (€ / $) .- The good PMI figures in the Euro appreciated Eurozone so that the cross rose from 1.3550 to 1.370. This week we start with a good German IFO strong it will keep the single currency. In addition, the US macro could slack off by the impact of bad weather. On the other hand, we think the Fed will launch a reassuring message at the same time continue its pace of withdrawal of stimulus measures , which should see the dollar. In any case, it will dominate the sentiment of risk aversion in emerging problems. Thus, we think that the junction will move laterally.  Estimated range (week): 1.355 to 1.375 . 

Euroyen (€ / JPY) .-The yen ‘s appreciation trend was accentuated by the “Argentine problem” that affected widely to many emerging currencies strengthen Japan. This week, the macro Japanese expected good, but the appreciation of the yen could continue, as long as the bags remain loose, the Fed meeting will add upward pressure on the dollar and the Argentine business will continue to put downward pressure on the currencies of developing economies.  Estimated range (week): 139.3 / 141.5 . 

Eurolibra (€ / GBP) .- The British rate Paro in November exceeded expectations and stood at 7.1%. Thus, unemployment is approaching the level set by the BoE to rethink its accommodative monetary policy (7%), which made the pound appreciated sharply during the first part of the week. However, the words of Carney in Davos winters made the waters return to normal, saying that a strong currency could hurt its external sector and that the rate hike still occur soon. Looking ahead to the next few days the euro could gain positions supported by a macro that continues to improve in the eurozone and in the absence of references in the UK.   Estimated range (week): 0.827 / 0.835 . 

Eurosuizo (€ / CHF) .-The possible collapse of Argentina ‘s economy was unveiled on Friday last week, caused a significant appreciation of some safe – haven assets, including the Swiss franc. Over the next few days this issue could continue to block markets and thus support that assessment at least until it is fully digested.  Estimated range (week): 1,224 / 1,219 .