Daily Forex Snapshots

Asian Session - Light Action

May 27, 2008 9:49 AM CEST

G10 Advancers and Decliners vs USD

	NZD	0.36
	CAD	0.12
	AUD	0.10
	NOK	-0.04
	DKK	-0.07
	SEK	-0.08
	EUR	-0.10
	CHF	-0.26
	GBP	-0.28
	JPY	-0.46

Global Indexes

Current Level

% Change

Nikkei 225 Index	13,893.31	+ 1.48
Hang Seng Index	24,274.62	+ 0.61
Shanghai Index	3,355.50	- 0.26
DAX futures	12,515.00	+ 0.35
CAC futures	4,939.50	+ 0.32
SMI Futures	7,385.00	- 1.20
DJIA futures	12,515.00	+ 0.35

World Markets

Current Level

% Change

Gold	926.20	- 0.31
Silver	18.22	- 0.49
VIX	19.55	+ 8.31
Crude wti	133.11	+ 0.69
USD Index	71.88	- 0.15

Todays Calender

Estimates

Country / GMT

Consumer Confidence (may)	0.0	0.8	SW / 9.15
PPI (may) m/m	0.5%	-0.1%	SW / 9.30
UBS Consumption (april)	--	2.289	SZ / 10.00
BBA Loan for House (april)	--	35417	UK / 10.30
IFO May	--	--	GE / 2.00
S&P / Case Shiller 1q y/y	-12.5%	-8.90%	US / 3.00
Consumer Confidence (may)	60.0	62.3	US / 16.00
New Home Sales (apr)	523k	526k	US / 16.00
New Homes Sales (apr) m/m	-0.6%	-8.5%	US / 16.00

Currency Tech

AUDUSD
R 3: 0.9826
R 2: 0.9723
R 1: 0.9655
CURRENT: 0.9605
S 1: 0.9546
S 2: 0.9511
S 3: 0.9392

EURJPY
R 3: 164.98
R 2: 164.51
R 1: 163.88
CURRENT: 163.72
S 1: 162.26
S 2: 161.60
S 3: 161.27

USDSGD
R 3: 1.3774
R 2: 1.3732
R 1: 1.3669
CURRENT: 1.3616
S 1: 1.3566
S 2: 1.3554
S 3: 1.3470

Market Brief

Usd slightly weaker in Asian session due to a general negative dollar sentiment and a light volume consecutive to the traders' return from holidays. EurUsd trended up to 1.5818 levels before falling in late Asia trading after the drop in German confidence. UsdJpy was range bound again around the 103.40 levels before the German data hit the screen causing a spike in 103.90.

US markets were closed on Monday, in honor of Memorial Day. Asian markets are posting gains for the first time in six sessions, with the Nikkei up 1.6%, the Hang Seng up 0.6% and the MSCI A-P up by 1.1%. Stocks rebounded as they reached their lowest level for a couple months, with large caps leading the way. Cathay Pacific was amongst the gainers, as it raises surcharges. China is easing restrictions on foreign banks such as HSBC to set up rural operations. The Aussie and kiwi dollar are up again, as the yield on their currencies make them attractive places to park funds. WTI crude remained at 133.00 while gold also held stable at 925.15.

The real activity will start in the US with S&P/Case-Shiller home price index, Conference Board confidence index and finally Richmond Fed manufacturing index which is expected to stay at dejected levels around 0.

12.00gmt - ECB's Ordonez speaks
13.15gmt - Fed's Kroszner speaks
16.50gmt - Fed's Yellen speaks

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