Daily Forex News

Monday in Asia, the Australian and New Zealand dollars climbed against their key counterparts as stock markets across the Asia-Pacific region traded higher. Investors look forward to the release of U.S. Treasury Secretary Timothy Geithner’s plan to remove toxic bank debts, boosting demand for higher-yielding currencies.

Monday in Asia, the yen slumped to new multi-month lows against its most major counterparts after a government report showed that confidence among Japanese manufacturers worsened in the first quarter of 2009 as the deepening global recession spurred a record decline in exports and factory outputs.

Just like core CPI, the PCE core deflator could have risen by 0.2% mom in February, particularly because medical care costs went up noticeably. The annual rate is likely to increase to 1.7%. However, the FOMC is expecting the core PCE deflator’s annual rate to fall to 0.9%-1.1% at the…

EUR/GBP continues to consolidate below 0.9494 today so far and intraday outlook remains neutral for the moment. Deeper pull back might be seen to 4 hours 55 EMA (now at 0.9283). But downside should be contained by 0.9144 support and bring rally resumption. Above 0.9494 will target 0.9518 resistance next…

EUR/CHF continues to consolidate below 1.5446 today and intraday outlook remains neutral for the moment. Some more consolidation could be seen, with risk of deeper pull back to 1.5172 minor support or below. But after all, downside should be contained well above 1.4820 support and bring rally resumption. above 1.5446…

AUD/USD’s rise resumes after brief consolidation and extends further as high as 0.7001 so far. At this point, intraday bias remains on the upside as long as 0.6815 minor support holds. Further rally should still be seen targeting 0.7267 cluster resistance (161.8% projection of 0.6248 to 0.6849 from 0.6284 at…

USD/CAD continues to consolidation above 1.2191 so far and intraday remains neutral for the moment. But after all, another decline is still in favor as long as 1.2625 minor resistance holds. Below 1.2191 will target next support of 1.1761. Though, break of 1.2625 will indicate that fall from 1.3063 has…

EUR/USD continues to consolidate in tight range below 1.3737 so far and intraday bias remains neutral for the moment. While another pull back cannot be ruled out, downside is expected to be contained well above 1.2991 support and bring rally resumption. Above 1.3737 will target 1.3822 next. (61.8% retracement of…

GBP/USD edges higher to 1.4624 so far and suggests that rise from 1.3654 is resuming. At this point, intraday bias remains on the upside as long as 1.4394 minor support holds. Current rise from 1.3654, which is treated as the third leg of consolidation from 1.3503, is expected to extend…

USD/CHF continues to consolidate in tight range above 1.1158 today. Intraday outlook remains neutral for the moment and another recovery cannot be ruled out. But after all, fall from 1.1963 is in favor to continue as long as 1.1456 minor resistance holds. Below 1.1580 will bring fall resumption towards 1.0864…