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.

 

 

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