| EUR/USD | USD/JPY | GBP/USD | USD/CHF | |
| 1.427 | 99.7 | 1.6435 | 1.103 | |
| Resistance | 1.405 | 98.9 | 1.6245 | 1.101 |
| 1.4 | 98.25 | 1.6175 | 1.0985 | |
| 1.3805 | 97.9 | 1.5985 | 1.0835 | |
| Support | 1.3795 | 96.8 | 1.5845 | 1.078 |
| 1.3785 | 96.5 | 1.58 | 1.0665 |
The dollar may rise to $1.30 per euro in the next three months as the U.S. economy shows signs of a recovery and concerns ease that overseas investors will reduce holdings of Treasuries, according to UBS AG. Recent comments from Japanese, Indian and South Korean officials suggest that demand for Treasuries will remain strong, UBS said in a report yesterday. The dollar rose to a three-week high against the yen last week after a Labor Department report showed the U.S. lost fewer jobs than forecast in May. “The sharp rally in the greenback after last week’s much better-than-expected payrolls numbers shows that dollar bears should be wary of selling the greenback at these historically low valuations,” UBS said in the report written by strategists including Mansoor Mohi-Uddin and Brian Kim. The EUR/USD is currently trading at $1.3950 as of 8:39am, London time.
Canada’s dollar rose as crude oil advanced and stocks pared losses on speculation the worst of the recession may be easing. “There’s been a dramatic move in equity markets,” said Jack Spitz, managing director of foreign exchange at National Bank of Canada in Toronto. “That’s attracting some more risk- related bids into currencies such as the Canadian dollar.” Canada’s finance minister, Jim Flaherty, told reporters in Montreal improvements in financial markets give reason for optimism that a global economic recovery isn’t “far behind” and that Canada will “lead the way.” Crude for July delivery rose as much as 0.8 percent to $68.95 a barrel on the New York Mercantile Exchange. Raw materials including oil account for more than half of Canada’s export revenue. The USD/CAD is currently trading at 1.1122 as of 9:00am, London Time.
The pound rose against the dollar for the second day as signs the U.K. housing market is “stabilizing” stoked optimism the worst of the recession is over. The U.K. currency also strengthened versus the euro on speculation Prime Minister Gordon Brown has fended off calls to step down following a series of ministerial resignations and a drubbing in local and European elections. “The housing data and the improvement in Gordon Brown’s fortunes for the time being are providing support for the pound,” said Gavin Friend, a markets strategist in London at National Australia Bank. “There’s an appetite for risk out there today.” The GBP/USD is currently trading at $1.6135 as of 9:12am, London Time.
Today's Economic Events
| Time | Event | Currency/Country | Period | Previous | Forecast | Significance | Actual |
| 23:50 | Domestic CGPI (M-o-M) | Japan | -0.4 | 1 | |||
| 21:00 | ABC News Consumer Confidence Index | United States | -49 | 3 | |||
| 14:00 | Inventories (M-o-M) | United States | -1.6 | -1 | 1 | ||
| 14:00 | IBD/TIPP Economic Optimism | United States | 48.6 | 2 | |||
| 10:00 | Industrial Production (M-o-M) | Germany | 0.00% | -1.30% | 1 | ||
| 10:00 | Industrial Production (M-o-M) | Germany | 0 | -1.3 | 2 | -1.90% | |
| 9:00 | CPI (M-o-M) | Greece | 0.3 | 2 | 0.2 | ||
| 9:00 | CPI (Y-o-Y) | Greece | 1 | 3 | 0.5 | ||
| 9:00 | CPI - EU Harmonised (M-o-M) | Greece | 0.4 | 3 | 0.2 | ||
| 9:00 | CPI - EU Harmonised (Y-o-Y) | Greece | 1.1 | 2 | 0.7 | ||
| 9:00 | GDP (Q-o-Q) | Malta | -1.1%(R) | 2 | -1.30% | ||
| 9:00 | Industrial Production (Y-o-Y) | Greece | -5.3 | 3 | -11.30% | ||
| 8:30 | DCLG UK House Prices (Y-o-Y) | UK | -13.6 | -13.3 | 4 | -13% | |
| 7:30 | Current Account Balance - BoP | DKK/Denmark | -0.2(R) | 2 | 2.9 | ||
| 7:00 | CPI (M-o-M) | Czech Republic | -0.1 | 2 | 0.00% | ||
| 7:00 | GDP (Y-o-Y) | Czech Republic | -0.7 | 3 | -3.40% | ||
| 7:00 | GDP (Y-o-Y) | Hungary | -2.50% | 3 | -6.70% | ||
| 6:45 | Trade Balance | EUR/France | -4.9 | -4.5 | 2 | -3.79 | |
| 6:30 | Bank of France Business Sentiment | France | 75 | 77 | 3 | 81 | |
| 6:00 | Current Account Balance - BoP | Germany | 11.3 | 8 | 1 | ||
| 6:00 | Trade Balance | EUR/Germany | 11.3 | 8 | 2 | 9.4 | |
| 6:00 | Current Account Balance - BoP | EUR/Germany | 10.17 | 8 | 2 | 5.8 | |
| 6:00 | Imports (M-o-M) | Germany | 0.2 | -0.9 | 3 | -5.8 | |
| 6:00 | Exports (M-o-M) | Germany | 0.3 | -1.3 | 3 | -4.8 | |
| 6:00 | Machine Tool Orders (Y-o-Y) | Japan | -80.4 | 4 | -79.3 | ||
| 6:00 | GDP (Y-o-Y) | Finland | -2.4 | 3 | |||
| 5:00 | Coincidence Index | Japan | 84.8 | 86 | 4 | 85.8 | |
| 5:00 | Leading Index | Japan | 75.5 | 77.2 | 2 | 76.5 | |
| 4:00 | Foreign Exchange Transaction | Australia | 512 | 3 | |||
| 4:00 | Business NZ PMI | New Zealand | 43.7 | 1 | |||
| 4:00 | REINZ House Sales (Y-o-Y) | New Zealand | 39.6 | 1 | |||
| 4:00 | GDP (Q-o-Q) | Cyprus | 0.52 | 2 | |||
| 4:00 | GDP (Y-o-Y) | Cyprus | 7 | 3 | |||
| 1:30 | NAB Business Conditions | Australia | -10 | 3 | -14 | ||
| 1:30 | NAB Business Confidence | Australia | -14 | 3 | -2 | ||
| 1:30 | ANZ Job Advertisements (M-o-M) | Australia | -7.5 | 3 | -0.20% |
