USD Dollar (USD) – The Dollar traded mixed against the other major currencies after the Existing Home Sales came out 4.88 M worse than expected 5.05 M. The Stock Markets in U.S. closed negative as the Dow Jones fell by 0.15% and the NASDAQ fell by 0.31%. Crude Oil strengthen by 1.6% and closed at 104$ a barrel. Gold (XAU) strengthen by 0.1% and closed at 1427.6$ an ounce. Today, the new home sales is expected at 288 K vs. 284 K last time and the fed chairman Bernanke speaks.
Euro (EUR) – The euro fell for the first time in four days against the dollar as investors speculated Europe’s leaders will struggle to find a permanent mechanism to address the region’s debt crisis. Braeaking the resistance level of 1.4200 will keep the bullish momentum facing a strong resistance at 1.4240. Overall, EUR/USD traded with a low of 1.4193 and with a high of 1.4201. Today, the Industrial New Orders is expected at 1.30% vs. 2.60% previously.
EUR/USD – Last: 1.4276
British Pound (GBP) – The pound strengthened to $1.64 for the first time since January 2010 and gilts slumped as U.K. inflation accelerated more than economists forecast, renewing speculation that the Bank of England will raise interest rates. The Core CPI came out 3.40% better than expected 3.20%. Holding above 1.6345 will keep the bullish momentum for the pair. Overall, GBP/USD traded with a low of 1.6207 and with a high of 1.6327. Today, MPC Meeting Minutes is expected.
GBP/USD - Last: 1.6375
Japanese Yen (JPY) – The yen closed unchanged yesterday against the U.S Dollar according to unclear status of the Japanese crises. The BOJ probably spent 500 billion to 600 billion yen when it intervened March 18. Holding above the support zone of 80.50 keep the momentum to positive for the pair. Overall, USD/JPY traded with a low of 80.91 and with a high of 81.01. No economic data is expected today.
Canadian dollar (CAD) – The Canadian dollar fell for the first time in four days against its U.S. counterpart as retail sales unexpectedly declined for a second month, spurring speculation the nation’s economic recovery is slowing. The Core retail sales came out 0.00% worse than expected 0.70%. Holding above the support level 0.9800 will keep the momentum bullish. Overall, USD/CAD traded with a low of 0.9746 and with a high of 0.9812. No major economic data is expected for today.
USD/CAD - Last: 0.9810