| EUR/USD | USD/JPY | USD/GBP | USD/CHF | |
| 1.4720(M) | 95.35(M) | 1.6745(S) | 1.0815(M) | |
| Resistance | 1.4360(S) | 95.15(M) | 1.6600(M) | 1.0785(M) |
| 1.4335(M) | 94.95(M) | 1.6545(M) | 1.0755(M) | |
| 1.4125(M) | 94.50(M) | 1.6400(M) | 1.0680(M) | |
| Support | 1.4095(M) | 94.15(M) | 1.6320(M) | 1.0635(M) |
| 1.4060(M) | 93.25(M) | 1.6220(M) | 1.0590(M) |
The greenback and the Yen fell against other major currencies as stocks gained before a U.S. report that economists/traders said will show an index of leading economic indicators rose, damping demand for safer assets. The euro advanced against the greenback before a French report out this week may show consumer spending rebounded, signaling the worst of the global recession might be over. “A lot of indicators are showing improvement,” said Khoon Goh, a senior economist at ANZ National Bank Ltd. in Wellington. “The earnings reporting season in the U.S. has gotten off to a fairly solid start. If that trend continues, we’ll see risk appetite to continue to come back. We can expect both the Aussie and the kiwi to outperform the yen.” The EUR/USD is currently trading at $1.4180 as of 8:37am, London Time.
Canada’s currency gained, as investors and traders raised bets on higher yielding assets on speculation the global recession may be coming to an end. The Canadian dollar also known as the loone strengthened 4.5 percent as crude oil and other commodities that benefit from an economic recovery advanced. Raw materials especially crude oil account for more than half of Canada’s export revenue. “This is really a trend away from the U.S. dollar and yen in favor of risk assets and commodities and, by extension, commodity currencies,” said Jack Spitz, managing director of foreign exchange at National Bank of Canada in Toronto. The USD/CAD is currently trading at 1.1070 as of 8:50am, London Time.
The British pound and Canadian dollar are likely to rise this week as earnings and economic data beat economists’ expectations, according to Mizuho Corporate Bank Ltd. “The pound correlates well with global banking-industry expectations, the Canadian dollar is a convenient method to express commodity opinion, and the Aussie is deemed as a higher- yielding play amongst major currencies,” Neil Jones, head of European hedge-fund sales at Mizuho in London, wrote in an e- mail today. “The yen should remain on the back burner.’’ The GBP/USD is currently trading at $1.6510 as of 9:04am, London Time.
Today's Economic Events
| Time | Event | Currency/Country | Period | Previous | Forecast | Significance | Actual |
| 23:50 | Monetary Policy Meeting Minutes | Japan | 2 | ||||
| 22:45 | Visitor Arrivals | New Zealand | 0.2 | 4 | |||
| 14:00 | Leading Index | United States | 1.2 | 2 | |||
| 14:00 | Lagging Index | United States | -0.2 | 3 | |||
| 14:00 | Coincidence Index | United States | -0.2 | 4 | |||
| 12:30 | International Securities Transactions | CAD/Canada | 9.05 | 3 | |||
| 12:30 | Wholesale Sales (M-o-M) | Canada | Monthly | -0.6 | 3 | ||
| 8:30 | CPI (M-o-M) | UK | Monthly | 0.6 | 2 | ||
| 8:30 | CPI (Y-o-Y) | UK | Yearly | 2.2 | 3 | ||
| 8:30 | Core CPI (Y-o-Y) | UK | Yearly | 1.6 | 3 | ||
| 8:30 | M4 Money Supply (M-o-M) | UK | Monthly | 0.2 | 3 | ||
| 8:30 | M4 Money Supply (Y-o-Y) | UK | Yearly | 16.6 | 4 | ||
| 6:00 | PPI (M-o-M) | Germany | Monthly | 0 | 0.5 | 2 | |
| 6:00 | PPI (Y-o-Y) | Germany | Yearly | -3.6 | 3 | ||
| 4:00 | NAB Business Confidence | Australia | -24 | 3 | |||
| 4:00 | Import Price Index (M-o-M) | Germany | Monthly | 0 | 2 | ||
| 4:00 | Import Price Index (Y-o-Y) | Germany | Yearly | -10.4 | 3 | ||
| 1:30 | PPI (Y-o-Y) | Australia | Yearly | 4 | 3 |
