Euro tumbled more than 50 points in late Asian trade today after Greek
officials stated that they were not hopeful about obtaining aid at the March 25
th EU summit and may have to turn to the IMF over the long Easter weekend in
April. Premier George Papandreou told reporters in Brussels that
Key Overnight Developments • Japanese Large Manufacturer’s Survey Points to
Jobless Recovery • New Zealand Consumer Confidence Down for Second Month in
March • Euro Leads Majors Lower on Rumors Greece Will Seek IMF Aid Critical
Levels The US Dollar recovered in
* Australian dollar AUD=D4 firm at $0.9215, under an eight-week high of $0.9253
hit offshore. On the week however, it is still up from Friday's $0.9151. It was
flat on the yen at 83.14 AUDJPY= * Japan's Nikkei . N225 and Australia's
S&P/ASX 200 .AXJO were flat early Thursday despite the Dow
• Euro Unable to Secure Stability Sentiment as EU Warns of Tough Times Ahead •
British Pound Rallies after Jobless Claims Dive and the BoE Minutes Mention
Inflation Risks • Japanese Yen Funding Status Reinforced by BoJ Stimulus
Expansion Dollar Recovers its Footing after Risk
* Kiwi NZD=D4 around $0.7137/40, little changed from morning trade, after
hitting an offshore high of $0.7180, its highest since Jan. 21. Kiwi seen
facing strong resistance around $0.7200, while support seen around $0.7097. *
Broad support for growth currencies after Wall Street gains on
March 18 (Bloomberg) -- Prime Minister Jose Luis Rodriguez Zapatero ’s drive to
show Spain can avoid Greece’s fate is being held hostage by the country’s
regional governments. Zapatero is being hobbled by a 30-year shift in power to
Catalonia, the Basque country and other territories
THE STORIES IN THE CURRENCY MARKET U.S. DOLLAR: DIP IN INFLATION SHOULD BE
TEMPORARY EUR/USD: NEW ROADBLOCKS FORM FOR GREEK AID GBP/USD: EMPLOYMENT GIVES
NEW LIFE TO THE POUND AUD/USD: RATES COULD STILL RISE USD/CAD: SHARP RISE IN
WHOLESALE
* Kiwi NZD=D4 about $0.7139/43, compared with $0.7119/23 in late local trade on
Wednesday and having touched an offshore high of $0.7180, its highest since
Jan. 21. Supports for kiwi now seen around $0.7097 and strong resistance around
$0.7200. * NZ dollar benefits from a broad
Trading the News: U.S. Consumer Price Report What’s Expected Time of
release: 03/18/2010 12:30 GMT, 08:30EST
Primary Pair Impact : EURUSD Previous:
2.6% Impact the U.S. Consumer Price Report has had on EURUSD
over the last 2
Key Technical Levels The 50-Day SMA at 125.34 is a significant barrier for the
EUR/JPY and considering that price action has held below the technical level
since January 5th, a major catalyst may be needed to see the level broken. The
current rising channel is an indication that there
• Euro Unable to Secure Stability Sentiment as EU Warns of Tough Times Ahead •
British Pound Rallies after Jobless Claims Dive and the BoE Minutes Mention
Inflation Risks • Japanese Yen Funding Status Reinforced by BoJ Stimulus
Expansion Dollar Recovers its Footing after Risk
