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2013-04-01 06:59 GMT
US Data, Italian Politics and Holidays
While it has been and will continue to be an exceedingly quiet morning in the foreign exchange market with most of the major markets closed for the Easter holidays, there were still have a few pieces of U.S. data released this morning. Personal income rose 1.1% in the month of February while personal spending rose 0.7%. USD/JPY barely reacted to the news because there's no one trading today but both numbers were better than expected and consistent with a continued recovery in the U.S. economy. The stronger increase in incomes versus spending is also a healthy trend that makes the light at the end of the tunnel shine slightly brighter for the Federal Reserve. The final University of Michigan Consumer Confidence numbers will be released later this morning but no revisions are expected and so the data should be a nonevent for the U.S. dollar.
Now that the situation in Cyprus has been pacified, the focus in Europe has shifted back to Italy where there were rumors that Berlusconi is open to a coalition with Bersani. He has since denied this possibility, saying instead that a grand coalition with an agreement on program reforms is the only acceptable option. Recent polls suggest that 50% of Italians are ready to vote again. - FXstreet.com
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2013-04-01 14:00 GMT
USA.Construction Spending (MoM) (Feb)
2013-04-01 14:00 GMT
USA.ISM Manufacturing PMI (Mar)
2013-04-01 14:00 GMT
USA.ISM Prices Paid (Mar)
2013-04-01 22:30 GMT
AU.AiG Performance of Mfg Index (Mar)
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2013-04-01 04:31 GMT
EUR/USD offered below 1.28; Italy and Cyprus main focus
2013-04-01 04:06 GMT
GBP/USD, premature to abandon bullish H&S pattern - BBH
2013-04-01 02:59 GMT
AUD/JPY lowest in 2 weeks, holds above 97.50
2013-04-01 01:26 GMT
USD/JPY dips further, 94.00 holds
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EURUSD
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HIGH
1.28129
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LOW
1.2771
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BID
1.27834
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ASK
1.27842
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CHANGE
-0.25%
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TIME
08:02:10
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OUTLOOK SUMMARY
Down
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TREND CONDITION
Down
trend
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TRADERS SENTIMENT
Bullish
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IMPLIED VOLATILITY
Medium
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MARKET ANALYSIS - Intraday Analysis
Upwards scenario: The recent price acceleration on the upside suggests a possible move higher ahead. Next on tap is resistive barrier at 1.2810 (R1) on the way towards to higher targets at 1.2844 (R2) and 1.2866 (R3). Downwards scenario: Although market players may prefer to increase exposure on the short positions and push the price below the support level at 1.2768 (S1). Possible price devaluation would suggest next initial targets at 1.2742 (S2) and then 1.2701 (S3).
Resistance Levels: 1.2810, 1.2844, 1.2866
Support Levels: 1.2768, 1.2742, 1.2701
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GBPUSD
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HIGH
1.52018
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LOW
1.51777
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BID
1.51892
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ASK
1.51904
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CHANGE
-0.07%
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TIME
08:02:10
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OUTLOOK SUMMARY
Down
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TREND CONDITION
Downward
penetration
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Medium
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Upwards scenario: Medium-term negative bias pressure the price lower however instrument might find buyers above the important resistance level at 1.5207 (R1). Break here might open route towards to our initial targets at 1.5231 (R2) and 1.5256 (R3).
Downwards scenario: Opportunities for bearish oriented traders are seen below the important support level at 1.5182 (S1). Loss here would open door for the downtrend expansion towards to interim targets at 1.5161 (S2) and 1.5133 (S3).
Resistance Levels: 1.5207, 1.5231, 1.5256
Support Levels: 1.5182, 1.5161, 1.5133
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USDJPY
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HIGH
94.373
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LOW
93.832
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BID
93.943
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ASK
93.950
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CHANGE
-0.28%
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TIME
08:02:11
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OUTLOOK SUMMARY
Down
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TREND CONDITION
Sideway
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TRADERS SENTIMENT
Bullish
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IMPLIED VOLATILITY
Medium
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Upwards scenario: USDJPY maintained a negative near-term tone though recovery action is possible above the next visible resistance at 94.34 (R1). Clearance here might initiate bullish pressure and validate our next targets at 94.59 (R2) and 94.86 (R3). Downwards scenario: Any downside fluctuations remains for now limited to the key support barrier at 93.85 (S1). Only clear break here would be a signal of possible market easing towards to our next targets at 93.60 (S2) and potentially to 93.34 (S3).
Resistance Levels: 94.34, 94.59, 94.86
Support Levels: 93.85, 93.60, 93.34
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