Daily Market News 26 April 2011

 

Yesterday’s Market Movers

  • There was no data in the UK or Europe due to the bank holiday.
  • Also in the US we had new home sales which measures the housing conditions in the US which improved to 11.1% from a previous figure of -13.5%, this triggered more risk aversion for the US Dollar.

 

Today’s Market Movers

  • Today we have Consumer confidence which is expected slightly better at 64.5 from 63.4. If this comes in better we could see the Dollar strengthen further.
  • FOMC meeting will be a main event this week. The focus will be on the first post-meeting press briefing as policymakers will very likely leave the Fed funds rate unchanged at 0.25% and the asset-buying program at $600B with expiry in June 2011.

 

 Currencies 

 High 

 Low 

 Support

 Resistance

 GBP/EUR

1.1363

 1.1296

1.1275

1.1380

 GBP/USD

 1.6555

 1.6468

 1.6490

1.6600

 EUR/USD

 1.4628

 1.4526

 1.4560

1.4625