Australian employment data is expected to show signs of deterioration during the month of March, as the net employment change is forecasted to rise by only 10,000 while the unemployment rate is anticipated to tick up to 4.1 percent. Previously,
Mainly the dollar has managed to acquire back some strength especially as the focus this week is on other central bank's to take the stand, while today's FOMC Minutes are not expected to be of great impact since Mr. Bernanke's
Traders are closely awaiting the release of the Federal Open Market Committee's minutes from its most recent policymaking meeting. Most Fed-watchers expect the minutes will evidence concern with the ongoing liquidity and housing crises but will evidence some dissent about
In currencies, the price action was tempered following the aggressive GBP sell-off during the European morning. The pound remains heavy against the majors after UK Prime Minister Brown noted that the BoE can afford to lower interest rates due to
The US dollar rose against a basket of currencies amid growing speculation that a sharp economic downturn in the United States could spread to other countries and prompt their central banks to cut interest rates. Speculation also grew that minutes
The greenback was mixed against the majors, higher against the sterling and yen but softer versus the euro. Economic data released earlier in the session saw pending homes in February fall by 1.9%, more than double the expected 0.7% decline
The momentum in the Canadian housing market has yet to fade, as housing starts outpaced expectations by a large margin. While consensus estimates pointed to a fall in housing starts to about 222,000 units on a seasonally adjusted basis, March
Though the Federal Reserve was already considered dovish, the minutes from the March 18th decision to cut rates by three-quarters of a percent proved the policy group has grown far more pessimistic about the outlook for the world's largest economy
USD/CHF rebounds from 1.0014 to as high as 1.0171 but lacks decisive buying to push it through 1.0216 resistance yet. Outlook remains neutral as the pair is still bounded inside established range of 0.9870 and 1.0249. On the upside, above
Sterling remains generally weak as traders are anticipating another rate cut from BoE this week. In addition, the pound is pressured after Halifax house price showed another month of decline by -2.5% mom dragging yoy rate much lower to 1.1%.
Cable's fall from 2.0049 extends further to as low as 1.9774 today. The failure to take out mentioned near term trend line resistance (now at 2.0018) and the strength of the current fall is adding favor to the case that
GBP/JPY's fall from 205.09 resumes and dives further to as low as 201.35 today. As discussed before, failure to sustain above short term channel resistance (now at 203.95) and 4 hours MACD's stay below signal line suggest that an intraday
Dollar remains steady in early US session after data showed pending home sales dropped more than expected by -1.9% from an upwardly revised 86.2 to 84.6 in Feb. Main focus for the rest of the day will be on FOMC
Cable's dives further to as low as 1.9664 today and break of 1.9730 support zone confirms that whole decline from 2.0391 has already completed. Also, as discussed before, it revives the case that rise from 1.9337 has already completed with
EUR/USD's rally was limited at 1.5798 and retreats again. At this point, further rally is still mildly in favor as long as 1.5624 support holds. But after all, the structure of the rise from 1.5510 is not convincing and is
EUR/USD edges further higher to 1.5798 today and at this point, further rally is still in favor as long as 1.5624 support holds. But after all, the structure of the rise from 1.5510 is not convincing and is probably just
Outlook is USD/CHF remain sunchanged as the the pair is still bounded inside established range of 0.9870 and 1.0249. On the upside, above 1.0216 will flip intraday bias back to the upside and suggest that rise from 0.9634 has resumed.
EUR/JPY edges higher to 161.71 earlier but fails to sustain above 161.38 resistance yet. As discussed before, upside momentum is seen diminishing with 4 hours MACD staying below signal line and mild bearish divergence condition in 4 hours RSI. An
USD/JPY's recovery was limited below 102.94 and weakens again. With 4 hours MACD staying below signal line, as well as with USD/JPY near to 103.59 key near term resistance, an intraday top is around the corner, if not already in
No change in USD/JPY's outlook as the pair continues stay in tight range 101.44 and 102.94. With 4 hours MACD staying below signal line, as well as with USD/JPY near to 103.59 key near term resistance, an intraday top is
