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Forex Trading StrategiesUSD stronger in Asia!
USDJPY traded above 118.00 after Japan's Tankan Large Manufactoring fell to 20 from 21 in December's survey
MAJOR HEADLINES â€“ PREVIOUS SESSION
â€˘ US Personal Income Feb, out at 0.3% vs. 0.4% expected.
â€˘ US Personal Spending Feb, out at 0.1% vs. 0.0% expected.
â€˘ US PCE Deflator Feb, out at 2.9% in line with expectations.
â€˘ US PCE Core Feb, out at 0.1% as forecasted.
â€˘ U. of Michegan Confidence March, out at 88.9 vs. 86.9 expected.
â€˘ US Chicago PMI March, out at 60.4 vs. 57.0 expected.
â€˘ US Factory Orders Feb, out at 0.2% vs. 1.3% expected.
â€˘ Australia's ANZ Job Advertisements Feb, out at 2.0% vs. -2.0% expected.
â€˘ Australia's Trade Balance Feb, out at -595M vs. -1800M.
â€˘ Japan's Tanan Large Manu. Index Q1, out at 20 bs. 23 expected. Tankan Outlook out at 22 in line with expectations.
â€˘ Japan's Tankan Non-Manu Q1, out at 18 in linbe with expectations. Outlook out at 19 vs. 18 expected.
â€˘ Japan Vechile Sales Marc, out at -1.7% vs. -1.2% forecasted.
THEMES TO WATCH â€“ UPCOMING SESSION
Today's data focus is on PMI Manufacturing out of France, Switzerland, Italy and the EC. The market will look to see if the latest strong European data can continue. The EURUSD left us little to go by, but the 1.1950-80 support area is crucial or else it is back in a very large range with no apparent direction, which could leave the EURUSD very quiet in the weeks to come.
Note: the support/resistance levels used in the matrixâ€™s of this document are levels derived from yesterday high, low and close. Reference in the text to other support/resistance levels will occur.
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