Tuesday April 20, 2010 - 03:44:25 GMT
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FX Thoughts for the Day - www.fxthoughts.com
Morning Briefing : 20-Apr-2010 - 0342 GMT
The US Equities ended mixed yesterday. The Dow (11092.05) closed up 0.67% while the Nasdaq (2480.11) closed flat. The Dow surged after the Citigroup profits more than doubled for the first Quarter. The Dow has a Resistance near 11100.
The Asian equities are up today. The Nikkei (10995.01) is up 0.42%, the Shanghai (2985.20) is trading flat and the Hang Seng (21567.88) is up 0.76%. In India, the Sensex (17400.68) was down 1.08% and the Nifty (5203.65) was down 1.12% yesterday. Sensex may find some Support near 17300 in the coming days.
In Australia, the All Ordinaries (4952.30) is up 0.26%.
Crude (81.96) continued to fall and recorded a low of 80.53. Goldman Sachs' fraud case and demand concerns of the jet fuel in Europe due to Iceland's valcano pulled down the price. Support is seen in the broad 82-80 region.
Gold (1137.20) is trading within the broad Support region 1140-00 region. As mentioned earlier, we might expect some consolidation within this Support region for some time. The broader picture continue to remain bullish with strong Support at 1100.
Euro (1.3473) has bounced back from yesterday's low of 1.3416. Resistance is seen at 1.3500-20 region which might be tested and a break above it might see 1.3580-1.36 today. The Euro-Yen Cross is also trading higher following the rise in Euro and Dollar-Yen. A break above the immediate Resistance at 125.00-20 region might take it up to 126-127 once again. Cable is looking bullish for a rise once again to 1.55 with strong Support at 1.5215-00 region.
Dollar-Yen (92.56) found support near 91.5 yesterday and may rise towards 93.25-50 today. Aussie (0.9268) bounced back from 0.9268, and may target 0.9350 on a strong rise past 0.9290. Dollar-Swiss (1.0641) may rise towards 1.0700 today.
The Korean Won is trading near 1115 and the Sing dollar has strengthend further and is trading near 1.3761. Dollar-Rupee has opened lower today at 44.58/59 as compared to yesterday's close of 44.73/74. Support is seen at 44.50.
The 3M USD LIBOR was was unchanged at 0.31%. The 2Y and 10Y yields were up 4 bps and 3 bps each to quote at 0.98% and 3.79% respectively.
The BOC is expected to keep the rates unchanged while the RBI is expected to the increase rates by 25-50 bps in their meeting scheduled today.
08:30 GMT Mar UK CPI Y/Y
...Expected 3.2%...Previous 3.0%
09:30 GMT RBI Repo Rate
09:30 GMT RBI Reverse Repo Rate
09:30 GMT RBI CRR
13:00 GMT BoC Meeting
...Expected 0.25%...Previous 0.25%
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