24 April 2012 analyst 14: 00 GMT Talking PointsUS dollar: Fed to maintain the current policy, soften your Euro Dove: Spain, Italy Face, rising costs of funding - descending Triangle rest play pound sterling: Hits of the high annual costs before of the Dollar of us GDP for the United Kingdom 1 q: Fed to maintain the current policy, soften your Dove
The greenback came under pressure from the decision of interest rates FOMC, with the Dow Jones - FXCM U.S. Dollar Index (Ticker: USDOLLAR) give back the night advance to 9 947, but the decision to rate on tap for tomorrow may support the currency reserve that the Committee away from its relaxation cycle. While the FOMC widely expected to maintain its current policy in April, lot fresh rhetoric of Central Bank coupled with the updated growth forecasts and inflation can strengthen our optimistic appeal for the USD as the Fed leaders take note of the more robust recovery.
In turn, we could attend the Committee begin to discuss a strategy of provisional output as fundamental prospects for the United States resumed, but the President of the Fed Chairman Ben Bernanke may keep the door open to develop policies more that the sovereign debt crisis continues to pose a threat to the global financial system. Nevertheless, as the switches of the Fed is preparing, the shift in the Outlook for the policy must lead the higher of the greenback in 2012, and we should see the bullish formation on the USDOLLAR continue to take shape as it excludes a lower about 9 900. Therefore, we always look to see another run at 78.6% Fibonacci allows 10 118, and the fundamental principles that come out of the global economy should be more important in the conduct of the price action as the Fed seems to conclude its policy of zero interest rates.
Euro: Spain, Italy Face increased costs of funding - descending Triangle remains at stake
The Euro advanced to 1.3190 in the rise in risk taking behaviour, but the rebound is likely to be of short duration such as reviving the costs of funding through the European periphery raises the threat of contagion. Indeed, the performance related to the Spain and the Italy of debt continued to grow more than Governments operated the overnight bond market, and the ongoing upheaval in the area continues to inspire a vision impaired for the EURUSD as failure of European political decision-makers to restore the confidence of investors. Governments to operate under the single currency become more and more dependent on monetary aid, the European Central Bank may face increased pressure to further develop the monetary policy, but the wait and see approach by the Council of Governors may limit the appeal of the Euro as there seems to be a growing split within the group. As the formation of the EURUSD down continues to pan out, we should see the pair of lower track going in may, and the entering maintains a bond risk strong action price approach of the apex of the triangle down.
Pound sterling: affects high annual fees before of 1 q UK GDP.
Sterling extended in advance from earlier this month, with the GBPUSD rallying to a fresh 1.6163 annual Summit, and the sterling may enjoy in the next 24 hours of trading the economic role must encourage improved prospects for the United Kingdom as the report of the first quarter GDP advance is expected to show the economy to return to growth, a strong footprint could trigger a race to the 23.6% Fib of the eyes of low to high around 1.6250 and the sterling 2009 loan to appreciate further in 2012 as the Bank of England seems to conclude its relaxation cycle. As the GBPUSD maintains upward trend channel earlier this year, we expect to see high costs in may, but we will keep a close eye on the territory of surachat strength relative index of the approaches. Nevertheless, we should see former resistance around Act 1.6000 as new as the trend in the GBPUSD gathers pace and the sterling may surpass against its major counterparts in the rest of the year of change in Outlook accessories policy interest rate expectations.
-Written by David Song, currency analyst
To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @ DavidJSong
To be added to David electronic distribution list, send an email with the subject "Distribution list" line to dsong@dailyfx.com.
The EUR/USD will resume the downtrend of 2011? Join us in the Forum
Related articles: weekly Currency Trading forecasts
Future FX
Fed of Richmond Manufacturing Index (APR)
Corporate price (YoY) (MAR)
More small decline since December.
Index of consumer prices (QoQ) (first quarter)
Slow pace of growth since Meur 2009. Core CPI lowest since the first quarter of 2011.
Index of consumer prices (YoY) (first quarter)
ICC RBA trimmed average (QoQ) (first quarter)
ICC RBA trimmed average (YoY) (first quarter)
CPI median weighted RBA (QoQ) (first quarter)
CPI median weighted RBA (YoY) (first quarter)
Credit card spending s.a. (MoM) (MAR)
Credit card, spending (YoY) (MAR)
Balance (Swiss franc) trade (MAR)
Exports fell for the second time in 2012.
Indicator of consumption UBS (MAR)
Of France (APR) consumer confidence indicator
French global survey business application (APR)
Italian hourly wage (MoM) (MAR)
Italian hourly wages (YoY) (MAR)
Public finances (PSNCR) (pounds) (MAR)
More large deficit since November 2010.
Sector public Net borrowing (pounds) (MAR)
Sector public borrowing Net ex Interventions (MAR)
Contracts for the first time since July.
Retail sales less Autos (MoM) (FEB)
S & P/Case-Shiller Composite-20 s.a. (MoM) (FEB)
Advances for the first time since April, 2011.
S & P/Case-Shiller Composite-20 (YoY) (FEB)
Home S & P/Case-Shiller (FEB) price index
DailyFX provides news forex and technical analysis on trends affecting the global currency.
Learn forex trading with a free practice account and FXCM maps.
24 April 2012 14: 00 GMT
Apr, 23: 13: 40 GMT Euro for threatening to 1.3000, Howser training Sterling to collect PaceApr, 20: 14: 20 GMT Euro relief rally offer sale opportunity, book key of eyes 1. 6250Apr, 19: 13: 10 GMT Euro continues to sculpt, high of Sterling cost in SightApr, 18: 13: 25 GMT Euro eyes support to come to Spain Bond Auction, Sterling at OutperformApr, 17: 16: 20 GMT USD Index threatens a trend more largeLivre sterling eyes 2012 maximum charge
The greenback came under pressure from the decision of interest rates FOMC, with the Dow Jones - FXCM U.S. Dollar Index (Ticker: USDOLLAR) give back the night advance to 9 947, but the decision to rate on tap for tomorrow may support the currency reserve that the Committee away from its relaxation cycle. While the FOMC widely expected to maintain its current policy in April, lot fresh rhetoric of Central Bank coupled with the updated growth forecasts and inflation can strengthen our optimistic appeal for the USD as the Fed leaders take note of the more robust recovery.
In turn, we could attend the Committee begin to discuss a strategy of provisional output as fundamental prospects for the United States resumed, but the President of the Fed Chairman Ben Bernanke may keep the door open to develop policies more that the sovereign debt crisis continues to pose a threat to the global financial system. Nevertheless, as the switches of the Fed is preparing, the shift in the Outlook for the policy must lead the higher of the greenback in 2012, and we should see the bullish formation on the USDOLLAR continue to take shape as it excludes a lower about 9 900. Therefore, we always look to see another run at 78.6% Fibonacci allows 10 118, and the fundamental principles that come out of the global economy should be more important in the conduct of the price action as the Fed seems to conclude its policy of zero interest rates.
Euro: Spain, Italy Face increased costs of funding - descending Triangle remains at stake
The Euro advanced to 1.3190 in the rise in risk taking behaviour, but the rebound is likely to be of short duration such as reviving the costs of funding through the European periphery raises the threat of contagion. Indeed, the performance related to the Spain and the Italy of debt continued to grow more than Governments operated the overnight bond market, and the ongoing upheaval in the area continues to inspire a vision impaired for the EURUSD as failure of European political decision-makers to restore the confidence of investors. Governments to operate under the single currency become more and more dependent on monetary aid, the European Central Bank may face increased pressure to further develop the monetary policy, but the wait and see approach by the Council of Governors may limit the appeal of the Euro as there seems to be a growing split within the group. As the formation of the EURUSD down continues to pan out, we should see the pair of lower track going in may, and the entering maintains a bond risk strong action price approach of the apex of the triangle down.
Pound sterling: affects high annual fees before of 1 q UK GDP.
Sterling extended in advance from earlier this month, with the GBPUSD rallying to a fresh 1.6163 annual Summit, and the sterling may enjoy in the next 24 hours of trading the economic role must encourage improved prospects for the United Kingdom as the report of the first quarter GDP advance is expected to show the economy to return to growth, a strong footprint could trigger a race to the 23.6% Fib of the eyes of low to high around 1.6250 and the sterling 2009 loan to appreciate further in 2012 as the Bank of England seems to conclude its relaxation cycle. As the GBPUSD maintains upward trend channel earlier this year, we expect to see high costs in may, but we will keep a close eye on the territory of surachat strength relative index of the approaches. Nevertheless, we should see former resistance around Act 1.6000 as new as the trend in the GBPUSD gathers pace and the sterling may surpass against its major counterparts in the rest of the year of change in Outlook accessories policy interest rate expectations.
-Written by David Song, currency analyst
To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @ DavidJSong
To be added to David electronic distribution list, send an email with the subject "Distribution list" line to dsong@dailyfx.com.
The EUR/USD will resume the downtrend of 2011? Join us in the Forum
Related articles: weekly Currency Trading forecasts
Future FX
Fed of Richmond Manufacturing Index (APR)
Corporate price (YoY) (MAR)
More small decline since December.
Index of consumer prices (QoQ) (first quarter)
Slow pace of growth since Meur 2009. Core CPI lowest since the first quarter of 2011.
Index of consumer prices (YoY) (first quarter)
ICC RBA trimmed average (QoQ) (first quarter)
ICC RBA trimmed average (YoY) (first quarter)
CPI median weighted RBA (QoQ) (first quarter)
CPI median weighted RBA (YoY) (first quarter)
Credit card spending s.a. (MoM) (MAR)
Credit card, spending (YoY) (MAR)
Balance (Swiss franc) trade (MAR)
Exports fell for the second time in 2012.
Indicator of consumption UBS (MAR)
Of France (APR) consumer confidence indicator
French global survey business application (APR)
Italian hourly wage (MoM) (MAR)
Italian hourly wages (YoY) (MAR)
Public finances (PSNCR) (pounds) (MAR)
More large deficit since November 2010.
Sector public Net borrowing (pounds) (MAR)
Sector public borrowing Net ex Interventions (MAR)
Contracts for the first time since July.
Retail sales less Autos (MoM) (FEB)
S & P/Case-Shiller Composite-20 s.a. (MoM) (FEB)
Advances for the first time since April, 2011.
S & P/Case-Shiller Composite-20 (YoY) (FEB)
Home S & P/Case-Shiller (FEB) price index
DailyFX provides news forex and technical analysis on trends affecting the global currency.
Learn forex trading with a free practice account and FXCM maps.
24 April 2012 14: 00 GMT
Apr, 23: 13: 40 GMT Euro for threatening to 1.3000, Howser training Sterling to collect PaceApr, 20: 14: 20 GMT Euro relief rally offer sale opportunity, book key of eyes 1. 6250Apr, 19: 13: 10 GMT Euro continues to sculpt, high of Sterling cost in SightApr, 18: 13: 25 GMT Euro eyes support to come to Spain Bond Auction, Sterling at OutperformApr, 17: 16: 20 GMT USD Index threatens a trend more largeLivre sterling eyes 2012 maximum charge
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