Today Forex News and Summary, 2010-04-07

Fundamental Forex News Today:

Time(GMT+7)			News/Indicator	Forecast	Actual
01:00	USD	high	FOMC Meeting Minutes
06:01	GBP	med	Nationwide Consumer Confidence	81
06:01	GBP	low	BRC Shop Price Index y/y		1.2%
06:30	AUD	med	AIG Services Index		48.4
10:03	JPY	med	Overnight Call Rate	0.10%	0.10%
10:03	JPY	med	Monetary Policy Statement
12:13	JPY	high	BOJ Press Conference
14:15	CHF	high	Retail Sales y/y	3.8%
15:00	EUR	low	Final Services PMI	55.5
15:30	GBP	high	Services PMI	58.1
15:30	GBP	low	Index of Services 3m/3m	0.7%
16:00	USD	med	Treasury Sec Geithner Speaks
16:00	EUR	low	PPI m/m	0.2%
16:00	EUR	low	Final GDP q/q	0.1%
17:00	EUR	med	German Factory Orders m/m	-0.8%
19:30	CAD	high	Building Permits m/m	2.1%
21:00	CAD	high	Ivey PMI	55.1
21:30	USD	med	Crude Oil Inventories	1.0M
23:15	USD	low	FOMC Member Dudley Speaks

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World Stock Indices   Last (%) DAX 6,252.21 +0.27% ETF 27.11 +0.59% DowJones 10,969.99 -0.03% FTSE100 5,780.35 +0.62% HangSeng 21,851.06 +1.46% Jakarta 2,912.41 +1.09% KOSPI 1,726.03 -0.00% Nasdaq 2,436.81 +0.30% Nikkei 11,334.67 +0.46% Shanghai 3,147.10 -0.37% 7/Apr/2010 11:53

Commodity Prices   Last (%) Brent Crude 86.29 0.16 Natural Gas 4.13 0.90 Wti Crude 86.95 0.13 Cocoa 2,188.00 -2.80 Coffee C 139.20 -0.32 Oat 209.00 -0.59 Sugar 11 15.89 -3.11 Copper 362.70 0.28 Gold 100 Oz 1,138.90 0.26 Silver 18.02 0.52 7/Apr/2010 12:13

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Support And Resistance Today

Last updated: April 6, 2010, 11:06 am EDT

Currency	Support levels			Resistance levels
	S1	S2	S3	R1	R2	R3
EUR/USD	1.3450	1.3380	1.3300	1.3500	1.3540	1.3590
AUD/USD	0.9180	0.9140	0.9090	0.9230	0.9270	0.9300
GBP/USD	1.5270	1.5230	1.5170	1.5300	1.5340	1.5380
USD/CAD	1.0000	0.9970	0.9940	1.0040	1.0070	1.0100
NZD/USD	0.7010	0.6970	0.6930	0.7040	0.7070	0.7115
USD/CHF	1.0580	1.0530	1.0490	1.0630	1.0680	1.0730
EUR/GBP	0.8810	0.8770	0.8730	0.8840	0.8880	0.8930
USD/JPY	94.00	93.50	93.10	94.40	95.00	95.40
GBP/JPY	143.80	143.00	142.40	144.70	145.30	146.00
AUD/JPY	86.70	86.30	85.50	87.00	87.50	88.00
EUR/JPY	126.70	126.00	125.30	127.15	127.80	128.30
CAD/JPY	93.90	93.40	92.80	94.30	94.70	95.30
	S1	S2	S3	R1	R2	R3

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FOREX NEWS

Dollar dips below parity with Canadian dollar

Dollar rises on euro, but dips below parity with Canadian dollar for 1st time since mid-2008

Tali Arbel, AP Business Writer, On Tuesday April 6, 2010, 11:14 am EDT

NEW YORK (AP) -- The dollar jumped versus the euro Tuesday on concerns over aid to Greece, but was briefly worth less than the Canadian currency for the first time since July 2008.

Greek borrowing costs soared as investors worried that a European bailout plan involving the International Monetary Fund could fall apart.

The 16-nation euro dropped to $1.3368 in morning trading in New York from $1.3486 late Monday. Investors are worried that a European bailout plan involving the IMF will not be able to contain the country's debt problems after reports that Greek officials want to try to avoid the IMF's involvement -- a crucial part of the plan. Greek officials on Tuesday denied that Greece was seeking to revise the debt deal.

Debt woes in European countries, particularly Greece, have pushed the euro down from above $1.51 in late November.

The Canadian currency, meanwhile, has gotten a boost from rising energy prices. Canada is a major exporter of oil, and crude prices are circling 18-month highs. Canada also has one of the smallest budget deficits of the major economies.

The dollar dropped as low as 99.92 Canadian cents Tuesday. That's the first time the U.S. currency has dropped below parity with its Canadian counterpart since July 2008. In later morning trading in New York, the dollar fetched 1.0003 Canadian dollars, down from 1.0031 Canadian dollars late Monday.

The sharp gains in the Canadian currency may cause the Bank of Canada to threaten to intervene in foreign exchange markets, said UBS analyst Geoffrey Yu. A stronger currency makes Canada's exports more expensive.

In other trading, the British pound fell to $1.5179 from $1.5298 amid uncertainty over the outcome of Britain's upcoming election. British Prime Minister Gordon Brown has called for an election on May 6, but polls show a winner is uncertain. A "hung" government without a majority is seen as weak, which could be problematic given the U.K.'s debt problems.

The dollar slipped to 93.95 Japanese yen from 94.24 yen late Monday. On Monday, the dollar hit 94.76 yen, its highest point since August 2009.

An interest-rate hike by the Reserve Bank of Australia also helped boost the Australian dollar to 92.34 U.S. cents versus 92.10 U.S. cents late Monday. Rising interest rates can prompt investors to transfer funds as they seek out higher returns.

Meanwhile, the U.S. currency rose to 1.0709 Swiss francs from 1.0624 francs.

Source : yahoo.com - finance    7/Apr/2010 05:14

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