Daily Forex Snapshots

Risk Appetite Roars Higher As Eurozone And US Data Impresses

March 12, 2010 5:55 PM CET

G10 Advancers and Decliners vs USD

	GBP	1.04
	CAD	0.99
	CHF	0.95
	SEK	0.95
	DKK	0.65
	NOK	0.65
	EUR	0.64
	NZD	0.26
	AUD	0.25
	JPY	-0.24

Global Indexes

Current Level

% Change

FTSE 100 Index	5'620.82	+ 0.06
DAX Index	5'944.83	+ 0.27
SMI Index	6'830.71	- 0.31
S&P 500 Index	1'150.41	+ 0.01
DJIA Index	10'626.36	+ 0.14
Nikkei 225 Futures	10'680.00	+ 0.22
Hang Seng Futures	21'153.00	+ 0.30

World Markets

Current Level

% Change

Gold	1'107.00	- 0.23
Silver	17.16	- 0.12
VIX	18.36	+ 1.66
Crude wti	82.28	+ 0.21
USD Index	79.80	- 0.65

Todays Calender

Estimates

Country / GMT

No further releases

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Currency Tech

EURUSD
R 2: 1.3850
R 1: 1.3800
CURRENT: 1.3755
S 1: 1.3530
S 2: 1.3425

USDJPY
R 2: 92.15
R 1: 91.90
CURRENT: 90.45
S 1: 89.50
S 2: 88.15

GBPUSD
R 2: 1.5350
R 1: 1.5278
CURRENT: 1.5190
S 1: 1.4857
S 2: 1.4780

AUDUSD
R 2: 0.9325
R 1: 0.9280
CURRENT: 0.9155
S 1: 0.8935
S 2: 0.8790

USDCAD
R 2: 1.0530
R 1: 1.0490
CURRENT: 1.0180
S 1: 1.0155
S 2: 1.0100

Market Brief

• Austrian newspaper Der Kurier reports that France and Germany are debating a EUR55 bln rescue as soon as Easter
• Turkey agrees with IMF on fiscal rule but opinions said to differ on projections
• Eurozone Industrial Production (Jan) smashed estimates at +1.7% MoM (+0.7% expected) and last month’s -1.7% print was revised up significantly to +0.6% causing a strong EURUSD rally to 1.3797 highs.
• SNB rumoured to be active in the CHF market, but EURCHF still hits new lows today at 1.4577.
• The dollar index hit 79.697 early in the US session, its lowest level since February
• US Retail Sales (Feb) was much higher than forecast at +0.3% MoM (-0.2% expected), but some gains pared by downward revisions to the month prior from +0.5% to +0.1%
• US U.Mich Sentiment (Mar) missed estimates at 72.5 (74.0 expected, 73.6 prior)
• US Business Inventories (Jan) came out at 0.0% MoM (0.1% expected, prior revised to -0.3% from -0.2%)

BoJ Poised to Ease

March 12, 2010 8:40 AM CET

G10 Advancers and Decliners vs USD

	CAD	0.37
	NOK	0.29
	SEK	0.27
	AUD	0.25
	CHF	0.19
	DKK	0.15
	EUR	0.12
	NZD	0.10
	GBP	0.10
	JPY	-0.09

Global Indexes

Current Level

% Change

Nikkei 225 Index	10,751.26	+ 0.80
Hang Seng Index	21,149.32	- 0.37
Shanghai Index	3,013.41	- 1.20
FTSE futures	5,609.50	- 0.33
DAX futures	5,943.00	+ 0.38
SMI Index	6,876.00	+ 0.37
S&P future	1,150.60	+ 0.42

World Markets

Current Level

% Change

Gold	1,113.39	+ 0.35
Silver	17.18	+ 0.09
VIX	18.06	- 2.74
Crude wti	82.15	+ 0.04
USD Index	80.23	- 0.11

Todays Calender

Estimates

Country / GMT

Industrial production, %	0.7	-1.7 (-5.0	EUR / 10.00
BoE MPC member Spencer Dale speaks	--	--	GBP / 11.00
Retail sales, %m/m	0.1	0.5	USD / 13.30
Retail sales ex-autos,	0.2	0.6	USD / 13.30
Core retail sales, %m/m	--	0.8	USD / 13.30
U. Mich. Consumer sentiment, index	73.7	73.6	USD / 14.55
Business inventories, %m/m	0.1	-0.2	USD / 15.00
ECB President Trichet speaks	--	--	EUR / 20.45

Currency Tech

EURUSD
R 2: 1.3800
R 1: 1.3735
CURRENT: 1.3700
S 1: 1.3530
S 2: 1.3425

USDJPY
R 2: 92.15
R 1: 91.90
CURRENT: 90.62
S 1: 89.50
S 2: 88.15

GBPUSD
R 2: 1.5350
R 1: 1.5278
CURRENT: 1.5049
S 1: 1.4857
S 2: 1.4780

AUDUSD
R 2: 0.9325
R 1: 0.9280
CURRENT: 0.9160
S 1: 0.8935
S 2: 0.8790

USDCAD
R 2: 1.0530
R 1: 1.0490
CURRENT: 1.0237
S 1: 1.0200
S 2: 1.0100

Market Brief

• New Zealand Jan retail sales m/m 0.8% vs. 0.5% exp, y/y 2.3% vs. 3.6% exp, ex-autos 0.3% m/m vs. 0.9% exp.
• New Zealand Feb median house prices unch m/m, 6.1% y/y, sales 37.2% and -3.8%, residential house price index 0.4% m/m
• According to Bloomberg US President Obama is to nominate SF Fed President Yellen to be FOMC ViceChair
• Japanese Prime Minister Hatoyama states will respond to yen rise if not reflecting fundamentals and that the BoJ and government must work together
• BoJ lis ikely to focus on proposal to double scale of QE to Y20 trln according to media publications

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