| EUR/USD | USD/JPY | GBP/USD | USD/CHF | |
| 1.2925 | 97.15 | 1.525 | 1.257 | |
| Resistance | 1.2825 | 96.75 | 1.52 | 1.247 |
| 1.2685 | 96.2 | 1.506 | 1.23 | |
| 1.242 | 94.45 | 1.4845 | 1.2145 | |
| Support | 1.239 | 93.55 | 1.48 | 1.2105 |
| 1.2335 | 92.5 | 1.4705 | 1.204 |
The Financial giant Citigroup was facing a breakup or sale after his stock crashed 60% last week. The US government issued a 306Billion $ guarantees for Citi troubled mortgages and toxic assets to stabilize the bank. Furthermore Citi will get 20 billion cash injection added to the 25 billion he already received from treasury Department. The act by the US government issued some short term optimism and Europe opened on the positive side. The dollar shed some losses this morning on risk appetite but this and the market move might be short leaved. The dollar was trading around the levels of 1.2615 vs. the euro, 95.45 against the yen and 1.4925 vs the sterling at 09:40 (GMT).
The sterling was little change today ahead Gordon Brown spending plans to aid the U.K economy. Economist estimates that the plan will include a deduction of 2.5% on the 17.5% VAT in order to spur consumer spending. ``The pre-budget report is likely to see the most substantial fiscal measures announced for many years'' BNP Paribas SA analysts including Alan Clarke wrote in a report dated Nov. 21. ``The Chancellor is likely to slash his growth projection and raise his borrowing estimate”. The UK is predicted to be the worst performing among the developed countries in 2009, when the economy is expected to shrink 1.2%. last week BOE minutes signaled that they may be further cuts down the way in order to revive the economy. The pound was trading around the levels of 1.4930 vs. the dollar and 0.8555 against the euro.
The EZ current account is expected to show further increase in the deficit at 09:00 (GMT). In the US further signs of weakness are expected when the existing home sales will be published at 15:00 (GMT). In the UK we will have the Pre-Budget release at 15:30 (GMT).
Today's Economic Events
| Time | Event | Currency | Period | Previous | Forecast | Significance | Actual |
| 15:00 | Existing Home Sales | USD | Oct | 5.18M | 5.02M | 3 | |
| 10:00 | Industrial New Orders m/m | EUR | Sep | -1.20% | -2.90% | 2 | |
| 9:00 | Ifo Business Climate Index | USD | Nov | 90.2 | 88.8 | 3 | |
| 9:00 | Current Account | USD | Nov | -8.4B | -7.4B | 2 | -10.6B |
