The Euro is showing strength this morning currently up at around the 1.4746 mark. The Euro has had a strong run for the last 10 days. Technical supports 1.4700/05 and 1.4680, resistances 1.4735, 1.4750, 1.4770. The Yen is looking holding steady around its open currently bouncing at around the 90.94 mark. The Yen surged to a seven month-high against
the dollar yesterday, after Japan’s incoming finance minister said the government would not interfere to halt the currency’s recent ascent. The Yen reached a high of Y90.16 against the dollar, its best reading since February, when Hirohisa Fuji said the new centre-left Democratic party opposed intervention in the currency markets. After showing recent losses, Sterling is also showing strength this morning at around the 1.6537 level. Technical supports 1.6470, 1.6440/50, resistances 1.6520, 1.6550.Â
Due for release today there are, GBP retail sales, EUR Euro-Zone Trade Balance, Euro-Zone Construction Output, GBP U.K. CBI Industrial Trends Total Orders, Cad Consumer Price Index, CAD Bank Canada Consumer Price Index, CHF Swiss National Bank Interest Rate, CAD Leading Indicators and USD Housing Starts.
By Greg Secker
